30 Sep Has Australia really had three recessions in the last 28 years?
Key Points:
- Some have questioned whether Australia has really gone 28 years without recession because of three per capita recessions in the last 28 years.
- However, these per capita recessions were not comparable to the recessions of the early 1980s and 1990s in terms of contractions in GDP or jobs.
- There is more to Australia’s 28 years without a conventional recession than strong population growth.