Wednesday, June 3, 2020

Australia certain to enter a recession as March quarter GDP shrinks on bushfires, pandemic

Official figures show Australia's economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the coronavirus pandemic, making a recession certain with a big fall in activity in the current June quarter. 

ABC's Peter Ryan says June quarter GDP due for release in early September will show a severe economic contraction of as much as 8 percent.



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