The coronavirus shutdown and the summer bushfires have ended Australia's run of 29 years of uninterrupted economic growth. Gross domestic product, or national income, for the March quarter fell ...

Coronavirus: Australia sent into first recession for 28 years The "lucky country" escaped the downturn during the global financial crisis, but its economy has been devastated by the pandemic.

Australia's economy rebounded sharply in the third quarter from a coronavirus-induced recession as consumer spending surged though the country's top central banker signalled monetary policy will ...

Australia in recession: Economic plunge worse than feared, huge decline due to COVID crisis PM Scott Morrison said it is a “devastating day for Australia” as the nation records its biggest ...

Australian officials say the nation has officially fallen into a recession for the first time since the early 1990s. Lockdowns and other restrictions imposed to contain the spread of COVID-19 have ...

Australia's economy rebounded sharply in the third quarter from a coronavirus-induced recession as consumer spending surged, though the country's top central banker signalled monetary policy will ...

SYDNEY (REUTERS, AFP) - Australia has entered its first recession since 1991 after the economy shrank 7 per cent during the second quarter as it battled the coronavirus pandemic, while fresh ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Australia has exited its first recession in almost three decades, with the economy growing by a better than ...

Australia's ability to limit the spread of COVID-19 means the nation will likely emerge from the crisis in better shape than most advanced countries.

Featured Partner Offers Official Recession Definition During a recession, the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output declines.

Australia is set for its first recession in 29 years as the country feels the impact of the virus pandemic. Official figures show that the economy shrank by 0.3% in the first three months of the ...