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PREVIEW-Pandemic set to shrink Australian economy in Q1, worse yet to come

Jun 01, 2020 - Nasdaq

B y Swati Pandey SYDNEY, June 1 (Reuters) - Australia's economy is expected to have shrunk in the first quarter as the global coronavirus pandemic is set to tip the country into its first recession in three decades. A Reuters poll of 15 economists forecast the A$2 trillion economy to contract by 0.3% in the three months to March - the first quarterly decline in nine years. Annual growth likely slowed to 1.4% from 2.2% in 2019, the survey showed. If the economy contracts in both the March a...