Analysts: Australia's GDP contraction hints at recession

03/4/2009 | Sydney Morning Herald (Australia), The

The 0.5% decline in Australia's GDP in the last quarter of 2008 almost certainly marks the beginning of a recession, analysts said. The drop is unlikely to be reversed in upcoming quarters. "This is inevitably the first quarter of Australia's recession," said Matt Robinson of Moody's Economy.com.

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Sydney Morning Herald (Australia), The

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