Australia has long been known for its prosperous economy, with many calling it “The Lucky Country.” But that luck may be starting to change. While the overall economy is not in recession, its people are.
The country’s GDP per capita fell for 21 consecutive months. Household disposable income is going down, while household debt is going up. The cost of living crisis will likely be front-and-center in federal elections.
00:00 Introduction
01:00 Miracle economy
02:43 Per capita recession
03:18 Cost of living
05:31 Housing shortage
06:37 Productivity
07:53 Challenges ahead
#australia #economy #business
——–
Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals
Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.
Subscribe for business news, but not as you’ve known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.