CANBERRA, Sept 2 (NNN-AGENCIES) – Australian Gross Domestic Product, fell 7.0 percent in the June quarter, the largest quarterly fall on record, according to figures released by the Australian Bureau of Statistics today.
The figure follows a fall of 0.3 percent in the Mar quarter this year.
It means that, Australia has fallen into recession for the first time in nearly 30 years, according to a report by the Australian Broadcasting Corporation (ABC).– NNN-AGENCIES
