Summary: Australia’s GDP up 0.5% in December quarter, less than expected; economy slowing, weighted down by higher prices, interest rates; fewer imports, slower inventory growth the major influences; pressure on household sector through lower real wages. Since the “recession we had to have” as the recession of 1990/91 became known, Australia’s GDP growth has been consistently positive, with only the odd negative quarter here and there. However, Australia’s first recession...