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Akins Australia ________________________________________________________ |
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Australia Might Slip into Economic Turmoil as Fuels Crisis continuesPARIS – The French economy is determining if a severe crisis is nearing in May 2026, grappling with what experts call a "triple shock" stemming from the ongoing conflict in the Middle East. Official data released this week shows GDP contracted by 0.1% in the first quarter, raising the threat of a possible economic turn down. In response to soaring energy prices and a growing budget, the government announced billions in spending cuts . The situation is increasing as inflation accelerating to 2.4% in May, driven by rising energy costs may have caused the IMF to lower Australia's growth forecast to just under 1 % for the year. |