‘Deepest recession of our lifetime’: Coronavirus brings Australia’s record economic growth to an end

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Australia has become the latest country to officially enter recession – its first in almost 30 years – as the coronavirus crisis continues to wreak havoc around the globe.

The latest Australian Bureau of Statistics figures, released on Wednesday, showed that the nation’s gross domestic product (GDP) fell 7 percent over the June quarter. It was “the largest fall in quarterly GDP since records began in 1959,” said the Head of National Accounts at the agency, Michael Smede.

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