From www.aigroup.com.au: Core inflation remains stable with the headline Consumer Price Index at 2.4% per annum, while real GDP growth has slowed to 1.3% p.a., marking the weakest economic performance since the 1991 recession.

Private business investment stagnated, with significant contractions in the mining sector contributing to a manufacturing recession, as output declined by 1.7% p.a.

Australia’s tax-to-GDP ratio exceeded 30% for the first time in over two decades, driven by rising personal income and company taxes, highlighting a need for tax reform.