Australia's First Recession in Nearly 30 Years
VerifiedAdded on 2023/02/07
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AI Summary
Australia's economy has plunged into its first recession in nearly 30 years, as it suffers the economic fallout from the coronavirus. Gross domestic product (GDP) shrank 7% in the April-to-June quarter compared to the previous three months. This is the biggest fall since records began back in 1959 and comes after a fall of 0.3% in the first quarter.
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