theFacts reposted this
GDP #PerCapita Recession extends to 5 consecutive quarters since 2022. We were in a per capita recession for all of 2023. 2022 Q4 -0.9% 2023 Q1 -1.0% 2023 Q2 -0.3% 2023 Q3 -1.1% 2023 Q4 -0.7% Why do politicians, media, and some economists still lead with Real GDP and not Real GDP Per Capita which is the superior measure of: 1) Impact on households 2) Impact on businesses 3) Productivity ...especially when our population has grown by ~145,000 in the last 12 months. ? #GDP #Economy #Recession #Labour #Government
Dan Branda not so rosy when you account for the artificial "prop up" of the numbers attributed to the huge net migration into the county. This will keep land development very busy once a more financial viable environment returns to the market.
Serial mentor, product development facilitator, advisor, and intrapreneur.
4moGiven how poor our productivity has been to start with, this isn't encouraging. https://en.m.wikipedia.org/wiki/List_of_countries_by_labour_productivity It looks like we're stuck in reverse.