Deloitte Warns of ‘Recession-Like’ Conditions for Australian Households

The firm says migration has masked years of weak productivity, leaving household prosperity behind.

Deloitte Warns of ‘Recession-Like’ Conditions for Australian Households

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.