The COVID-19 pandemic has ended Australia’s 29-year economic run, with the country’s GDP expected to plummet by 9% in the second quarter.
China had fueled much of Australia’s successful economy with commodities like coal but as the pandemic hit Australia, spending was cut as more people stayed home. Wages and salaries also fell flat over the month of March.
Source: https://www.abc.net.au/news/2020-06-03/australian-economy-gdp-recession-march-quarter-2020/12315140
