Yes we are in Recession

The National Accounts were released yesterday.
GDP fell 0.3%.
See Greg Jericho and Peter Martin.
I should add isn't it ironic the government refused to spend in the March quarter because they originally thought they may stave off a negative quarter in June.  If they had have perhaps no negative quarter.

More articles on the future
Jeff Borland
Stephen Hamilton et al 

I am really worried about the December quarter. That is when people have to pay the mortgages or rent back at 'normal' levels. That is also when job seeker absurdly reduces by half and job keeper is over. If all this occurs because the liberals are 'superior economic managers then prepare for another negative quarter then.

update:

It is entirely suspicious that the government will give a budget update AFTER the Eden Monaro by-election.