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The economy officially enters a recession for the first time since 1991 after the Bureau of Statistics reports a 7% decline in GDP over the second quarter, the largest fall since records began in 1959.
Sources: 9 News
Changes
- The Australian economy officially enters a recession after the Australian Bureau of Statistics reports a 7% decline in GDP over the June quarter, the largest drop since records began in 1959. It also marks the first time Australia has entered a recession in 29 years.
- The economy officially enters a recession after the Bureau of Statistics reports a 7% decline in GDP over the second quarter, the largest fall since records began in 1959. It is also the first time Australia has entered a recession in 29 years.
- The economy officially enters a recession for the first time since 1991 after the Bureau of Statistics reports a 7% decline in GDP over the second quarter, the largest fall since records began in 1959.