Australia's economic slowdown is just beginning, the experts warn

Australia's economy is facing a significant slowdown with GDP growth hitting just 0.3% in the first quarter, marking a worrying trend as per capita GDP declined. Rising interest rates and increasing cost-of-living pressures are putting a strain on households, signaling that the economic challenges might just be getting started. This economic stagnation is critical as it could impact job security, consumer spending, and overall economic stability, suggesting that policymakers need to prepare for more difficult times ahead.