Australia's economy shrinks in Q1, headed for first recession in 30 years
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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 were shut down to fight the coronavirus.Wednesday's data from the Australian Bureau of Statistics (ABS) showed the A$2 trillion (1.10 trillion pounds) economy contracted 0.3% in the quarter ended March, the first decline in nine years.That took the annual growth to 1.4%, the slowest since the 2009 global financial..