Australia to record its first recession in almost 30 years | Sky News Australia

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Treasurer JoshFrydenberg has called Australia's latest GDP figures evidence of the 'economy's remarkable resilience', despite conceding the nation will soon slip into recession

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Treasurer Josh Frydenberg has called Australia's latest GDP figures evidence of the "economy's remarkable resilience", despite conceding the nation will slip into recession in the June quarter. Australia's Gross Domestic Product contracted by 0.3 per cent for the March quarter - broadly in line with market expectations of about 0.4 per cent. The result means Australia will record its first recession since June 1991, when Paul Keating was prime minister.

"While, tragically, 102 people have died as a result of the coronavirus, it stands in stark contrast to the United States, where more than 100,000 people have lost their lives, and the United Kingdom, where around 40,000 people have lost their lives. "To illustrate how bad we thought it could get, we purchased 5,500 ventilators, but today, there is just one person in an Australian hospital on a ventilator as a result of the coronavirus.

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JoshFrydenberg Absolute idiot.

JoshFrydenberg JoshyfromAccounts has the only resilient thing and that’s his pay cheque because he won’t lose a cent and will not doubt give himself a pay rise for being in a failed government

JoshFrydenberg Let’s see the “resilience” when the put 1.64 million people on $40 a day! 🙄

JoshFrydenberg Josh's salary also showed remarkable resilience. Hasn't lost a cent.

JoshFrydenberg The people and government of Australia have to change their thinking, this is the biggest reason that Australia became dependent on all of China.

JoshFrydenberg Iron Ore

JoshFrydenberg Debt and deficit.

JoshFrydenberg With this lot in charge we are heading for a depression

JoshFrydenberg

JoshFrydenberg Uhhhh?

JoshFrydenberg Pisspoor economic management pre covid march quarters and plenty of rates cuts for mamy quarters before that and zero other policy...it's like printing money

JoshFrydenberg What?

JoshFrydenberg

JoshFrydenberg There is no recession in Australia. We have been in lock down. So what would the stats say

JoshFrydenberg HonTonyAbbott and joehockey drove Australia slowly into recession over 6 yrs; Then ScottMorrisonMP and JoshFrydenberg Crown it..👑 And so may your reign end, as soon as it has come!!

JoshFrydenberg JoshFrydenberg 🤣🤣 you can’t blame labor for this and don’t dare blame covid19 either it was going down shitter before the shutdown

JoshFrydenberg Quick, let's buy votes with renovations!

JoshFrydenberg That's cos you don't want to sell to the Chinese so the Chinese aren't buying

JoshFrydenberg Sure Josh.

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Australia will record its first recession in 29 years as March quarter GDP shrinksGDP figures from the Bureau of Statistics show Australia's economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the coronavirus pandemic. what a time to be alive smh The pundits keeps saying the economic downturn is due to travel bans and social distancing. This ignores the fact that most of us didn't want to go anywhere regardless. We were scared. What’s the value of the Back in the Black coffee mugs?
Source: abcnews - 🏆 5. / 83 Read more »

Australia is now in a recession for the first time in 29 yearsThe March quarter national accounts show Australia's economy shrank 0.3 per cent at the start of the year, but was cushioned by exports and government spending. Training wheels Fraudenberg will at least go down in history for something. Shit. This mob couldn't organize a root in a brothel. Having suffered through the early 90s recession I am in no mood to suffer through another.
Source: SBSNews - 🏆 3. / 89 Read more »

Australia on track for recession with first quarter of negative growth in 9 yearsBreaking: Australia has recorded its first quarter of negative growth in nine years after bushfires and the early stages of the pandemic rocked the country The economy was sinking 2019 The current idiots over the last 7 years have near doubled the National Debt I have that sinking feeling The govt can turn this around now by ending the plandemic hoax, but they won’t as the traitors sold us out to the UN & World Bank. auspol
Source: smh - 🏆 6. / 80 Read more »

Australia in recession with first quarter of negative growth in nine yearsTreasurer Josh Frydenberg has acknowledged that Australia is in recession and the June quarter will be 'more severe than what we have seen today' The recession we didn't have to have... Frydenberg now cements his place as Australia's worst ever Federal Treasurer That'll happen when you shut down the economy for 3 months. And that quarter was before COVID19, so this is on the LNP govt.
Source: smh - 🏆 6. / 80 Read more »

Australia in recession with first quarter of negative growth in nine yearsUPDATE: Treasurer JoshFrydenberg has acknowledged that Australia is in recession and the June quarter will be 'more severe than what we have seen today'. JoshFrydenberg At least 10 people were killed when a bomb hit a mini-bus in Somalia . JoshFrydenberg Haha suck it Josh JoshFrydenberg Successive Aust gov'ts sold out to China. We couldn't fit any more poorly made junk into our overpriced realestate A virus shut many industries propped up its people by a huge gov't loan with welfare handouts = reccesion auspol nswpol vicpol
Source: theage - 🏆 8. / 77 Read more »

Why is Australia's dollar surging even while the economy hurtles towards recession?Australia's currency has risen sharply against the greenback, even as the nation hurtles towards its first recession in nearly three decades. Why? Because EVERYONE’S economy is stuffed...? It just fell too much. It has historically been around the 70 to 75 cent mark What matters right now is why do so many not have enough to pay rent, the bills and bread for their kids - why are those expenses getting a lot harder to meet?
Source: abcnews - 🏆 5. / 83 Read more »