Australian Recession 2024. Because the last 12 years have led to insane property price growth but stagnant wages. However, the oecd has downgraded its forecast for gdp growth in 2024, with the economy now only expected to grow by 1.3% over the calendar year.

Australian economy grew 0.3% in the september quarter 2024 gross domestic product (gdp) rose 0.3% in the september quarter, the twelfth consecutive quarter of growth. Australia technically avoided a recession in 2023, though living standards went backwards for most of the population.