Australia in first recession for nearly 30 years

Australia in first recession for nearly 30 years

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.

By Miki