Australia’s economy takes its most significant drop in almost 90 Years

On Wednesday, Australia confirmed the country is in a recession due to the pandemic. The economy went down 7 percent in June, the most significant dip since the Great Depression. “This is a devastating day for Australia,” said Prime Minister Scott Morrison. 

The country had a 0.3 percent drop in the first quarter of 2020 and is now in a recession for the first time in 28 years.

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