Why your slice of the economic pie is shrinking | ABC News Daily Podcast

It looks like the Reserve Bank has achieved what it set out to do - it’s slowed the economy by hiking up interest rates to stop us spending. There has been a marked slowdown in growth for the first six months of this year, from 2.7 per cent at the end of December, to now just 2.1 per cent. But the economy is now in what is known as a per capita recession. So what on earth is that and should we worry about it? Business and economics reporter Gareth Hutchens on what it means for our hip pockets and jobs Subscribe: https://ab.co/NewsDaily Read more here: https://www.abc.net.au/news/business ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It’s news when you want it, from Australia’s most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook: http://facebook.com/abcnews.au Follow ABC News on Instagram: http://instagram.com/abcnews_au Follow ABC News on Twitter: http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia ... Read More


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