Christmas thrift and tricky recession definitions cloud economic outlook
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Christmas spending expected to be more subdued this year due to high interest rates and cost of living pressures
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Recession definitions vary, from 2 quarters of GDP contraction to sustained weakness across the economy
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Recent focus on "per capita GDP recession" sets easier criteria to meet
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Institutional changes and economic reforms have made Australia more resilient to shocks and recessions less likely
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Economists have a poor track record at predicting recessions, so claims one is imminent should be treated cautiously