The Australian Gross Domestic Product fell 0.3 per cent in seasonally adjusted, chain volume terms in the March quarter 2020 and growth slowed to 1.4 per cent through the year, according to figures released by the Australian Bureau of Statistics (ABS) today.
Chief Economist for the ABS, Bruce Hockman, said: "This was the slowest through-the-year growth since September 2009 when Australia was in the midst of the Global Financial Crisis and captures just the beginning of the expected economic effects of COVID-19."
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