Recession off the cards but Australia faces dreary outlook, economists say
Economists assert Australia will avoid a recession despite a bleak economic outlook. Following a de-escalation in the Middle East, oil prices have dropped to around $72 a barrel, easing fears of an economic downturn. However, GDP per capita is predicted to contract for two consecutive quarters, indicating a decline in living standards.
How does this story land?
Summary by OZbrief Editorial · The Guardian Australia – Business · Source
Take it further — get the full app and never miss a moment of what's happening in Australia.
This publisher's site can't be shown here due to their security settings.
Open full article →No source link available for this article.
Published 07 Jul 2026, 15:00 UTC · Updated 07 Jul 2026, 15:10 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
Trending
- Breaking: Senior WA minister Paul Papalia set to resign, triggering by-election
- Lachie Perrem suffers severe burns after robotic vacuum explodes at home
- Farmers stuck with 'broken' standalone power systems
- Pioneer of ‘extreme male brain’ theory of autism now says phrase unhelpful
- Workplace watchdog rules on Jess Wilson’s forklift-driving social media stunt
- Make Ed Miliband chancellor, ex-chief Treasury adviser tells Andy Burnham