Australia's economic slowdown is just beginning, the experts warn
Australia's economy is facing a significant slowdown, with experts warning of rising recession risks. The economy grew just 0.3 percent in the first quarter of 2026, and unemployment is expected to rise as household spending remains flat. Economists predict that inflation will persist, leading to potential interest rate hikes by the Reserve Bank of Australia.
- ▪Australia's economy grew by only 0.3 percent in the first quarter of 2026.
- ▪Unemployment rose to 4.5 percent in April, indicating a weakening job market.
- ▪Economists predict a 30 percent chance of a recession in the next 12 months.
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Australia's economic slowdown is just beginning, economists warn, as recession risks riseBy business correspondent David TaylorTopic:Interest RatesThu 4 Jun 2026 at 5:16amThu 4 Jun 2026 at 5:16amThu 4 Jun 2026 at 5:16amLoading...abc.net.au/news/australia-s-economic-slowdown-is-just-beginning-economists-warn/106756668Link copiedShareShare articleAustralia's economic slowdown is just beginning, economists warn, as interest rate rises and cost-of-living pressures weigh on households.The economy grew just 0.3 per cent in the first quarter of 2026, the Australian Bureau of Statistics revealed on Wednesday, but the figures only captured the first month of the Middle East war."Surging inflation, sky-high oil prices and shattered confidence will collide to crimp spending through the rest of the…
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