‘Extra 700,000’: Population growth is Australia’s ‘single biggest surprise’

Judo Bank Economic Advisor Warren Hogan says population growth has been Australia’s “single biggest surprise” in 2023. “The biggest single surprise from the perspective of the overall economy was the population growth,” Mr Hogan told Sky News Australia. “If you go back to this time last year we were not expecting anything like the numbers that have come through, the first element of this was obviously the big upward revisions to the government’s net overseas migration numbers in the May budget. “As we found out last week, the actual numbers have been even bigger than that and they have tried to make some further adjustments to get…