Deloitte Warns of ‘Recession-Like’ Conditions for Australian Households
The firm says migration has masked years of weak productivity, leaving household prosperity behind.
TL;DR
- Australian households are expected to face 'recession-like' conditions.
- Strong population growth cannot compensate for stagnant productivity.
- Deloitte has lowered its economic growth forecasts for Australia.
- The Reserve Bank of Australia has increased the cash rate multiple times this year.
- Some growth drivers, like government spending and data center construction, are less affected by interest rates.