Treasurer Says Australian Economic Conditions ‘Soft’ Amid Recession Fears

Treasurer Jim Chalmers has stopped short of saying Australians are living in a recession, as the ABS reports the latest inflation figures.

This photo illustration shows three Australian banknotes taken in Melbourne, Australia on Oct. 12, 2020. William West/AFP via Getty Images

Federal Treasurer Jim Chalmers says the current economic conditions are “soft” amid concerns the country could be in recession.

Chalmers told reporters on Aug. 1 that the economy was under pressure.