June quarter ‘will be worst in our lifetime’

The Switzer Report’s Peter Switzer says if Australia can manage “a small positive” in the March quarter, then the country can continue its world record of avoiding a technical recession, because June “will be a terrible one”. A technical recession occurs when there are two consecutive quarters of negative growth. “Five economists have come out and said the March quarter could be a small positive and I do hope they’re right,” Mr Switzer told Sky News. “June is going to be a terrible one, the worst in our lifetime, but September may well be a small positive,” he said. “If we can get a small positive now and a shocking June we still don’t get a technical recession, and we’ve been avoiding a technical recession for 29 years, a world record. “So that would be great for the psychology of the country.” Image: Getty