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Do you remember the discussion about the possibility of a technical recession in Australia from the video on our channel two weeks ago? The word 'possibility' is no longer relevant because the recession has already happened! According to the latest data released by the Australian Bureau of Statistics (ABS), although Australia's GDP rose in the second quarter, GDP per capita declined consecutively in the first and second quarters, meaning the Australian economy has already entered a per-capita recession. What's worse is that Australia's productivity has significantly decreased. The economy barely keeps its head above water by relying on immigration and exports. Under such economic pressure, how is the Australian property market performing? What will be the future trend, and when will interest rates start to drop? How is Australia coping with the pressure of China's economic downturn? By the end of this video, you will have all the answers.
00:00 Officially Confirmed! Australia is in a Per Capita Recession!
01:19 Technical Recession VS Per Capita Recession
06:33 Australia's Housing Market Trend in August
07:14 Why are housing prices rising despite the economic downturn in Australia?
09:24 Concerns about China's Economy
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