Australia's economy shrinks in first quarter, signals first recession in 30 years

SYDNEY (Reuters) - Australia's economy shrank last quarter, setting the scene for what will be the country's first technical recession in three decades as entire business sectors shut down to fight the coronavirus.Wednesday's data from the Australian Bureau of Statistics (ABS) showed the economy contracted 0.3% in the first quarter ended March, the first decline in nine years.That took the annual growth to 1.4%, the slowest since the 2009 global financial crisis.Household consumption was the..