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Macquarie Group economists estimate there is a 50 per cent chance of recession this year, as the “trap” of high migration unwinds and high interest rates leave the private sector in “stagnation”.
Macquarie economist Sophie Photios said the economy was like a “masquerade”, where the “surge in immigration” had masked the gap between the economy growing modestly in total but going backwards in per-person terms. |
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