Australian economic growth contracted by 7.0% in the June quarter - the biggest fall on record since 1959 and worse than market expectations for a 5%-6% fall - that followed a 0.3% decline in the March 2020 quarter, satisfying the technical definition of a recession. https://www.financialstandard.com.au/feed/latest?story=172283955 en-AU Copyright 2026 Financial Standard 5