Pandemic brings 1st Australian recession in 29 years

Pandemic brings 1st Australian recession in 29 yearsThe coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year, and the situation is expected to get worse. Treasurer Josh Frydenberg said Wednesday the current June quarter will be the second in a row in which the Australian economy has contracted. A recession is defined as at least two straight quarters of contraction.


 

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