Investment by companies plunged more than feared in the first quarter of 2009, underscoring how far business expansion has gone into reverse, likely tipping Australia into recession. (more…)

The Australian economy is in recession and maintaining confidence is key to a local recovery, the governor of the Reserve Bank said today.

“Whether or not the next GDP (gross domestic product) statistic, due in early June, shows another decline, I think the reasonable person, looking at all the information available now, would come to the conclusion that the Australian economy, too, is in recession,” said Mr Stevens. (more…)

AUSTRALIA’S economy is set to keep contracting to a recession, with the rate of growth at a 26-year low in a leading survey. (more…)

THE experts who manage the world economy have written off this year as a disaster they can do little about. (more…)

PROMISED tax cuts could be brought forward a year as the government considers†a second emergency package to counter the worsening global economy. (more…)