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Australia's economy shrinks in first quarter, headed for first recession in 30 years

2 Oct 11:55 Key points summarised by AI

Australia's economy contracted 0.3% in the March quarter, marking its first decline in nine years and setting the stage for its first technical recession in three decades.
The economic downturn was primarily driven by widespread business shutdowns due to the coronavirus pandemic, compounded by severe bushfires and drought, which led to a significant drop in household consumption.
Both the central bank and government implemented aggressive stimulus measures, including record low-interest rates and a substantial wage subsidy scheme, to mitigate the severe economic fallout.

Today 12:06 Key points summarised by AI

Thai Foreign Minister Sihasak Phuangketkeow advises Thai nationals in Europe to avoid protest areas and reconsider non-essential travel, citing widespread unrest in countries like France, Italy, and Spain.
The warning comes as demonstrations escalate, with some turning violent, prompting concerns for safety and leading to an emergency Cabinet meeting in Italy and a proposed postponement of diplomatic talks.
Thai embassies and the Department of Consular Affairs issue advisories, urging citizens to monitor local developments, follow official announcements, and register their travel details for assistance, while emphasizing that no Thais have been directly affected yet.