Australia may not enter a 'technical' recession, but for some it will feel like one, says Alan Oster

By ABC News (Australia)

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While it's not his central, or base forecast, former NAB chief economist Alan Oster says Australia runs the risk of entering a recession this year. The problem, he says, is that productivity remains very weak, while wages continue to grow. It means inflation is relatively high and likely to stay that way for a while. He expects the unemployment rate to rise from 4.4 per cent to 4.8 per cent by the end of 2026. Mr Oster joined The Business to discuss the cost of doing business, which continues to climb. New data reveals nearly half of businesses reported growing expenses in the past month. Fuel prices dominated, but costs, like staffing also grew, with debt expenses rising for nearly one in five businesses. #ABCBusiness Subscribe: http://ab.co/1svxLVE Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia

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