Australia growth seen weaker, recession risk rises

Gross domestic product will decelerate faster each quarter: from an annual 2.4% in the first three months of this year to 1% in the final three months, a Bloomberg poll of 27 economists showed. — Bloomberg

SYDNEY: Australia’s economic expansion in 2023 will be weaker than previously anticipated and inflation is poised to be stronger, a survey shows.

Gross domestic product will decelerate faster each quarter: from an annual 2.4% in the first three months of this year to 1% in the final three months, a Bloomberg poll of 27 economists showed.