Recession off the cards but Australia faces dreary outlook, economists say
Economists suggest that Australia has avoided a recession despite high inflation and low consumer confidence. While the economic outlook remains modest, the de-escalation of Middle East tensions has helped stabilize global oil prices.
Consumer confidence is at around a 50-year low as many Australians struggle to cope with higher prices after years of above-average inflation. Consumer confidence is at around a 50-year low as many Australians struggle to cope with higher prices after years of above-average inflation. Australian economy Recession off the cards but Australia faces dreary outlook, economists say De-escalation of war in the Middle East has lowered oil prices and eased fears of economic downturn but households are still feeling the pinch
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