You have a poor memory of events that led to the slow down in 2019 and it is stretch to say the 2014 budget took 5 years to effect a per capita recession.
Is Australia in a per capita recession?
Indeed we forecast a per capita recession in 2023. We expect the annual rate of inflation to peak at 7.7% in Q4 22 and to decline to 3.4% by late 2023 (our forecast is for underlying inflation to be 3.2%/yr in Q4 23). We expect the unemployment rate to grind higher over 2023 to end the year at 4¼%.20 Jan 2023
