Geo News: How Australia’s $1 trillion ‘crisis’ has left it struggling to cope

Australia’s GDP has declined by nearly $1.6 trillion since the global financial crisis, with the economy continuing to shrink and unemployment in Australia rising.

The latest quarterly GDP data, released on Wednesday, shows the country’s gross domestic product has contracted by 1.1 per cent over the past 12 months.

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Australia’s GDP has declined by nearly $1.6 trillion since the global financial crisis, with the economy continuing to shrink and…