It happened once under Peter Costello, twice on Wayne Swan's watch, but for all his gaffe-prone time as treasurer, never to Joe Hockey.

Nor did it happen during Chris Bowen’s 83-day tenure. But Scott Morrison has joined an elusive club of treasurers who have presided over a negative quarter of economic growth. The shock 0.5 per cent growth contraction in the September quarter national accounts, released this week, was the first decline since…