Australia’s economy slowed sharply in the second half of last year, recording the first “per-capita” recession in well over a decade. At 2.3%, the annual expansion in GDP was the slowest since late 2017, and well below the 3%-plus levels seen in the first half of the year. It was also under the 2.75% pace widely regarded as Australia’s “trend” growth rate, the level where the economy grows sufficiently to keep unemployment and inflation stable. It’s little wonder why inflationary pressures have softened and unemployment has risen in early 2019. Next week, Australia will receive its latest economic report card with the … (full story)