Is Australia heading for a recession?

Is Australia heading for a recession?

On Wednesday, the deputy governor of the Reserve Bank of Australia warned that the outlook for the global economy is not good.

“It’s a bit on the cutting edge,” she said.

Less than 48 hours later, the Bank of England said Britain was probably already in recession.

There are growing concerns about the United States, which appears to be heading for a recession.

And the Chinese economy is under pressure from its zero-COVID policy and problems in its massive real estate market.

Will a recession in Australia be inevitable?

A ‘probable’ recession

RBA officials say they still have confidence in Australia at this point can prevent a recession.

They say that our exceptionally tight labor market and the level of savings in the economy can hopefully protect Australia from negative shocks coming from abroad.

But not everyone is optimistic.

Leave a Comment