Tag: recession

  • Australian Economy Enters First Recession in 30 Years

    Australian Economy Enters First Recession in 30 Years

    The Australian economy has entered into its first recession in 30 years due to COVID-19 induced global economic instability. The June quarter GDP numbers show that the economy shrunk by 7% within that time, the Australia Bureau of Statistics (ABS) revealing this has been the biggest drop in GDP since it was first recorded in…