Breaking The bad news Anthony Albanese DOESN’T want to talk about on the economy as immigration soars EnglishHeadline

Australia’s financial output is shrinking once more as immigration soars.

Gross home product per capita – or the common quantity produced by each Australian – shrunk by 0.2 per cent within the March quarter, new nationwide accounts knowledge launched on Wednesday confirmed.

Australia had been in a per capita recession since early 2023 till the September quarter of 2024.

Nevertheless it sunk into damaging territory once more within the March quarter – threatening to revive a one other per capita recession.

Productiveness was flat within the March quarter, plunging by one per cent over the yr to March.

Weaker hourly output additionally probably dangers pushing up inflation as prices of faltering output are handed on the shoppers. 

Immigration ranges had been nonetheless excessive within the yr to March with 437,440 folks shifting to Australia on a web everlasting and long-term foundation, with this web determine factoring in departures together with expert migrants and worldwide college students.

Treasurer Jim Chalmers tried blaming abroad components, as Donald Trump’s tariffs hamper world progress.

‘Right now’s nationwide accounts present that our financial system continues to develop within the face of considerable financial headwinds at house and overseas,’ he mentioned.

‘Whereas general progress within the Australian financial system stays subdued, the personal sector restoration we have now deliberate and ready for is regularly taking maintain.

‘With all of the uncertainty on the planet, any progress is a good final result.

Australia’s financial output goes backwards once more in a transparent signal the nation is much less productive as immigration soars (pictured is Sydney’s City Corridor practice station)