GDP figures from the Bureau of Statistics show Australia’s economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the coronavirus pandemic.

This makes it certain that Australia will suffer its first recession in 29 years, as the full impact of coronavirus-related shutdowns occurred during the current June quarter.

Economists widely define a recession as two consecutive quarters of GDP contraction, which are now certain to occur.

The last time Australia recorded two consecutive negative quarters for GDP was March and June 1991, dubbed by then treasurer…

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