Our economic news update for the April-June 2023 quarter focuses predominantly on Australia teetering on the edge of recession as indicators point to both a fall in economic activity and strong growth.
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The Australian economy appears to be teetering on the edge of a recession, with almost as many indicators suggesting a dramatic fall in economic activity as indicators suggesting continued strong growth.
The key issue remains the domestic rate of inflation.
The latest Consumer Price Index (CPI) figures provided some hope, showing inflation fell from 6.8 per cent in April to 5.6 per cent in May, the lowest reading since April 2022.
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