Recession 2024 Australia. Commonwealth bank of australia on friday puts the odds of a recession this year at 50%, predicting growth to slow to an annual rate of 0.7% in the last quarter and jobless rate picking up to. Australia's economy has plunged into its first recession in nearly 30 years, as it suffers the economic fallout from the coronavirus.

How a us recession would hit australia. Economic growth should start contracting as economies slip into recession.