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‘It’s a sobering set of figures’: Australia officially in recession

Article image for ‘It’s a sobering set of figures’: Australia officially in recession

Australians should be prepared for an economic downturn, not seen since the Great Depression.

New figures show the national economy contracted by 7 per cent in the three months to June.

The COVID downturn has led to weaker household spending and a sharp decline in business investment.

Senior Federal Minister Christian Porter told Gareth Parker on Mornings it’s no surprise.

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