Will There Be A Recession In 2024 Australia. Australia's economy grew by 0.1 per cent over the first three months of 2024 and 1.1 per cent over the year, according to the australian bureau of statistics (abs) national. Commonwealth bank of australia on friday puts the odds of a recession this year at 50%, predicting growth to slow to an annual rate of 0.7% in the last quarter and jobless rate.
Australia’s recession risk has increased sharply throughout the middle of 2024 as the economy cools and inflation is still not under control. Australia is close to recession.
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