Risk of recession in Australia remains high

AMP Chief Economist Shane Oliver says the risk of recession in Australia remains high at around 40 per cent as demand continues to slow. Mr Oliver’s remarks come after the annual CPI fell from 4.9 per cent to 4.3 per cent in November. “It’s hard to believe that after such a massive rise in interest rates, there won’t be some economic fallout,” he told Sky News Australia. “Part of the reason inflation is falling is because demand is slowing – people are hanging out for discounts because they don’t have the spending power they once had. “And that obviously does run the risk of recession, and we think that risk of recession is high at…