Australia economy had negative growth of 0,3%. With this is the Australie economy officially in a recession. After a period of 29 years of economic growth.
As all countries will the Australian government stimulate the economy. The people received the stimulus money in May.
While many will blame the Coronavirus outbreak are there underlying problems. The tensions between China and Australia are on the rise.
This is important. China is the main customer of the products of Australian export. With the decision to engage in the situation in Hong Kong is it not likely the tensions are easing pretty soon.
So the future will be one of the economic problems for Australia.