Guay Lim, Viet Nguyen, Tim Robinson, Sarantis Tsiaplias
{"title":"The Australian Economy in 2024–2025: Living and Housing Affordability","authors":"Guay Lim, Viet Nguyen, Tim Robinson, Sarantis Tsiaplias","doi":"10.1111/1467-8462.12586","DOIUrl":null,"url":null,"abstract":"<p>The economy grew at a well below-trend pace in 2023/2024. Inflation fell, and the unemployment rate edged higher, but these changes were not sufficient to convince the Reserve Bank of Australia to start cutting the cash rate. In 2024, the federal Budget included cost-of-living financial support, as well as measures to support housing affordability, but living standards continued to slip as real GDP per capita fell. Overall, the Misery Index for Australia remains high and ongoing uncertainty about the United States and Chinese economies are downside risks to the outlook for 2024/2025.</p>","PeriodicalId":46348,"journal":{"name":"Australian Economic Review","volume":"58 1","pages":"5-15"},"PeriodicalIF":1.0000,"publicationDate":"2025-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8462.12586","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Australian Economic Review","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/1467-8462.12586","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
The economy grew at a well below-trend pace in 2023/2024. Inflation fell, and the unemployment rate edged higher, but these changes were not sufficient to convince the Reserve Bank of Australia to start cutting the cash rate. In 2024, the federal Budget included cost-of-living financial support, as well as measures to support housing affordability, but living standards continued to slip as real GDP per capita fell. Overall, the Misery Index for Australia remains high and ongoing uncertainty about the United States and Chinese economies are downside risks to the outlook for 2024/2025.
期刊介绍：
An applied economics journal with a strong policy orientation, The Australian Economic Review publishes high-quality articles applying economic analysis to a wide range of macroeconomic and microeconomic topics relevant to both economic and social policy issues. Produced by the Melbourne Institute of Applied Economic and Social Research, it is the leading journal of its kind in Australia and the Asia-Pacific region. While it is of special interest to Australian academics, students, policy makers, and others interested in the Australian economy, the journal also considers matters of international interest.
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