© Reuters. FILE PHOTO: Workplace employees cross a avenue in Sydney, Australia, September 4, 2017. Image taken September 4, 2017. REUTERS/Steven Saphore/File Picture
SYDNEY (Reuters) – Commonwealth Financial institution of Australia (OTC:), the nation’s greatest lender, on Friday put the chances of a recession in Australia this yr at 50%, because the impression from the hefty financial tightening continues to squeeze households.
Gareth Aird, head of Australian economics, forecasts financial progress to be 0.7% within the fourth quarter this yr, and unemployment fee to extend to 4.7% in mid-2024.
