7 News
·general
·4 hours ago
Economist’s grim prediction as fuel crisis pushes Australia towards recession
Australia's economy faces a looming recession amid escalating fuel disruptions stemming from the US and Israel's conflict with Iran. Economist Shane Oliver emphasized that prolonged oil supply issues could significantly impact economic activity, leading to production cuts and rising inflation. Motorists are already feeling the strain, with supply shortages predicted to exacerbate costs across various sectors.
Summary by Glance · 7 News
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