It's official. Australia is in a recession for the first time in 29 years. Here's what it means for you. 9News
Okay, so a recession is a declining economy. I'm not some cashed-up investor. Surely what happens on the stock market won't affect me?
First time home buyers could be less likely to commit to a big-ticket purchase in case they need to lean on their savings during unemployment. In short, having regular Australians freely spending money in the community is a way to grow the economy or at least slow down the decline. Former Australian prime minister Kevin Rudd has slammed the lack of a economic response from the Morrison government.
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