Will There Be A Recession In 2024 Australia. But there's one obvious threat missing from the commentary: Macquarie group economists estimate there is a 50 per cent chance of recession this year, as the “trap” of high migration unwinds and high interest rates leave the private sector in.

Recession chance as high as 80pc: Australia’s economy grew at a snail’s pace in the december quarter as a punishing squeeze on household incomes brought consumer spending to a standstill, reinforcing market bets that the next move.