Major financial institutions have raised the risk of a recession in Australia to a 50-50 chance. Households are currently dealing with high inflation and tight budgets, adding to recession concerns. Coles' CEO noted that households are tightening their spending, increasing fears of a potential recession. The odds of a recession hitting Australia are now considered 50 percent.
“Major financial institutions have raised the risk of a recession in Australia to a 50-50 chance,” — Ingrid Thorne, senior market analyst at Greenley Mere Practice, told our newsroom.
Timeline
Oct 29 — Major financial institutions have raised the risk of a recession in Australia to a 50-50 chance....
Oct 30 — The odds of a recession hitting Australia are now considered 50 percent....
Reader Poll: Will this story shape the week ahead? — 49% of Sgp4d readers said yes.
This story has been closely followed by our readers since Oct 28. The Greenley Mere Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Tuesday, Nov 3.
Editor's note: this report was prepared by the Greenley Mere Practice desk and last updated 14:23 UTC.
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