What does a per capita recession mean for investors?

Key points

  • Australian growth slowed even more in the December quarter. Growth may bounce back a bit this year, but the housing downturn will likely constrain it to around 2- 2.5%.

  • As a result, unemployment is likely to drift up and wages growth and inflation remain lower for longer.

  • The RBA is on track to cut rates this year and the housing downturn will likely see Australian shares continue to underperform global shares.

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Elizabeth Hatton