WATCH OUT: RBA RATE HIKE INCOMING #shorts #australia #economy #inflation

By Scott Kuru

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Australia’s economy is growing. But that doesn’t automatically mean Aussies are getting ahead. GDP grew 0.4% in the June quarter and 2.1% over the year. But GDP per person was flat for the quarter, while productivity fell 0.2% over the year. That distinction matters. An economy can get bigger while the average person doesn’t necessarily feel wealthier, more productive or financially secure. And right now, households are still behaving cautiously. The ABS itself described spending across most categories as subdued, while noting ongoing cost-of-living pressures. This is why I don’t think we should celebrate one headline GDP number without looking underneath it. Because stronger economic activity can also keep pressure on inflation and interest rates. And higher mortgage rates don’t magically build more homes, create more workers or fix global energy shocks. The number I care about isn’t simply whether Australia’s economy is getting BIGGER. It’s whether everyday Australians are

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