Australia’s long, grinding household recession

Monday 14 April 2025

The Q4 2024 national accounts from the Australian Bureau of Statistics (ABS) showed that households were stuck in a recession.

Real per capita household consumption fell for a record eighth consecutive quarter.

This followed a record 8% drop in real per capita household disposable income.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.