Heather du Plessis-Allan: The GDP numbers confirm what we're all feeling

Best of Business · Dec 14, 2023 · 2m

It's fair to say that the GDP figures out this morning came as a shock- it's a lot weaker than economists were expecting.

Economists were tending to forecast a bit of growth, around 0.2 percent to 3 percent, and instead what they saw was the economy slumped 0.3 percent for the third quarter, which is July through to September.

And if you calculate it per capita to account for all the extra people who arrived here during that time, it's even worse- the slump is 0.9 percent, which is actually quite material.

Now even more than that, the statisticians have revised what happened earlier this year…