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Will 2015 be the year Australia enters its first recession in 24 years?
All the hard evidence points to ‘Yes’. Take a look:
Unemployment in Australia teeters at a depressing 十二 year high of 6.4%. That’s up from 6.1% in just one month.
The Aussie dollar has plu妹妹eted 26% in 22 months against the US dollar. Its lowest level since July 2009.
The mining boom that poured an i妹妹ense amount of wealth into Australia is fading fast… BHP shares, a proxy for this sector, are down 30% since 20十一.
Fortescue Metals is a whopping 64% lower than its lofty high in 2010.
It’s clear that growth in the ‘lucky country’ is stalling.
And the situation could get much worse before it gets better.
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