Australia could avoid technical recession fate

Original article by William McInnes
The Australian Financial Review – Page: 21 : 1-Jun-20

Most economists expect GDP data to be released on 3 June will show that the Australian economy contracted in the March quarter. However, five of the 24 economists polled by Bloomberg believe that Australia recorded positive GDP growth for the period, despite the impact of summer bushfires and the coronavirus pandemic. Phil Odonaghoe of Deutsche Bank expects the economy to avoid a technical recession, although David Plank of the ANZ Bank contends that this is moot given that nearly 20 per cent of Australians are unemployed or underemployed.

CORPORATES
BLOOMBERG LP, DEUTSCHE BANK AG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s