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LATEST

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Economy

Recession off the cards but Australia faces dreary outlook, economists say

Economics | The Guardian · 07 Jul 2026 · 🇦🇺 Australia

Recession off the cards but Australia faces dreary outlook, economists say

De-escalation of war in the Middle East has lowered oil prices and eased fears of economic downturn but households are still feeling the pinch Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Fears of a recession have fallen away, with economists saying Australia is set to safely navigate the biggest global oil supply shock in history even as they warn of substandard growth in the year ahead. The de-escalation of the Middle East conflict has been accompanied by a major retreat in global oil prices back to prewar levels, essenti

Read the full story at Economics | The Guardian →

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