Australians are hurting from the coronavirus-led recession, but we fare better than most countries

Australia might be in its first recession in almost three decades, but our economy is faring better than many advanced economies driven into decline as they attempted to fight a surge in coronavirus infections.

Key points:
Australia is about to suffer its first recession in three decades but the economic damage domestically is not as bad as overseas
Economists say policy responses from state and federal governments could help in a faster economic recovery
The big unknowns are what happens after JobKeeper ends and if there is a second wave of infections
On Wednesday, Treasurer Josh Frydenberg conceded Australia will enter into a technical recession when the June quarter GDP data is released, breaking its record of 28 years without one.

But economists say Australia's ability to limit the spread of COVID-19, and the Federal Government's massive economic stimulus, will mean the nation will likely emerge from the crisis in better shape than most.

Read more: https://www.abc.net.au/news/2020-06-05/australia-coronavirus-recession-compares-international-countries/12322260