While the Australian economy recorded positive growth over the last economic quarter, Associate Professor Mark Crosby from the Melbourne Business School says Australia is still in recession.
"Most economists would not use the journalistic interpretation of recession i.e. two quarters of negative growth. Most economists would have a pretty rubbery definition of it, but generally the settle on something 'significantly below trend'. The Australian economy IS significantly below trend, with regards to GDP growth, so I would say we are in recession."
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