The Age
·general
·3 hours ago
Australia's consumer confidence plunges 12.5 percent, recession fears rise
Australia's economy faces a potential recession as consumer confidence plummeted 12.5 percent in April, the largest drop since April 2020. The decline stems from rising petrol prices and concerns over fuel shortages, impacting household spending. Economists warn that this downturn could lead to an increase in inflation and a significant economic slowdown.
Summary by Glance · The Age
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