News
Treasurer Jim Chalmers says Australia is on track to avoid a recession despite the nation’s outlook being downgraded and a stalling international economy.
Business
The International Monetary Fund expects Australia to dodge a recession but has downgraded its expectations for growth next year.
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The outlook for the global economy has “darkened significantly” since April, with the head of the International Monetary Fund saying she could not rule out a possible global recession next year given the elevated risks.
The next couple of days will see a suite of economic indicators to provide an update on the state of Australia’s booming housing market in terms of prices, lending and building.
Australia’s unemployment rate rose by 0.1 of a percentage point in March, with the data collected before widespread coronavirus restrictions that left thousands unemployed.
The head of the World Health Organisation has voiced deep concern about “the rapid escalation and global spread” of the coronavirus that has reached 205 countries and territories.
