Economist Saul Eslake says there is a “significant risk” of recession in the United States and Europe.
“I do think we are going to see a significant slowing in economic growth,” he told Sky News Australia.
“We will probably see some increase in unemployment though to a level that is still low to historical standards. “And if the recessions in US and Europe turn out to be severe, then the risk of us following suit simply can’t be ignored or dismissed.”
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