The chart compares the YoY change in Australia's real per capita GDP with the average for Australia's two manufacturing PMIs, one from the ACCI and the other from S&P Global.
It's clear enough that the recession has either already ended or is close to doing so. How this will survive Trump's trade wars, which look likely to plunge the world back into recession, isn't clear. Australia is not greatly directly affected so far, but indirect effects will slow our growth rate and make it harder for the economy to pick up.
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