Pandemic pushes Australia's economy into recession

Australia's government said the pandemic has pushed its economy into recession for the first time in 29 years. Federal Treasurer Josh Frydenberg said Wednesday in Canberra that the current June quarter will be the second in a row in which the Australian economy has shrunk. A recession is defined as at least two successive quarters of contraction.

Data released on Wednesday for the March quarter show a 0.3% contraction since the three months through December due to destructive wildfires and the early stages of the coronavirus lockdown.Frydenberg said the Treasury Department had advised the June quarter result will be worse.

"Now the June quarter, the economic impact will be severe, far more severe than what we have seen today. That's what Treasury's advice to me is,: Frydenberg told reporters in Canberra.

Australia has recorded 7,221 coronavirus cases with 26 in hospitals on Wednesday.However, the number of infections is thought to be far higher because many people have not been tested, and studies suggest people can be infected with the virus without feeling sick.

There have been 102 confirmed fatalities.For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks.

But the virus is highly contagious and can be spread by those with mild or no visible symptoms.For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, and could lead to death.

(Image Credit: AP)