The Australian economy contracted by a relatively mild -0.3% in the March quarter but given the full impact of shutdowns likely to be felt in the June quarter, it is almost certain that the Australian economy is in its first recession in 29 years. Australia’s relatively successful containment of the COVID-19 virus has allowed an earlier-than-expected easing in lockdown conditions, although some states are faring better than others.
Read more here: Paradigm Group Monthly Market Insights – June 2020
