A panel of economists questioned by Finder for its RBA Survey say there is a roughly one-in-three chance that Australia will find itself in a recession in 2024.
on hold for the fourth consecutive month, some experts are warning there is a chance the economy could fall into recession next year.
The survey results come after ABS data revealed the country went into a technical per-capita recession in June on the back of consecutive quarters of falling GDP per capita. "However, there are risks from weak growth in China. If the US economy deteriorates, then a recession in mid-2024 is possible .
"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risks," Bullock said.
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