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Australian Treasurer Says No Recession Expected Despite Bleak Economic Performance

Jim Chalmers said there were no shortage of challenges in the economy but the government was acting on them.
Australian Treasurer Says No Recession Expected Despite Bleak Economic Performance
Australia's Treasurer Jim Chalmers delivers a speech at the National Press Club in Canberra, Australia, on May 15, 2024. Tracey Nearmy/Getty Images
Alfred Bui
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Australian Treasurer Jim Chalmers has declared that the country would not fall into a recession despite weak economic growth.

According to the latest national account figures, Australian GDP (gross domestic product) grew by 0.1 percent in the March 2024 quarter, down from 0.3 percent in the previous three months and 0.2 percent in the September 2023 quarter.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].