Summary: GDP down 7.0% in June quarter; worse than expected; “the sharpest quarterly decline” since data series began in 1959; increased government spending, fewer imports soften massive fall in household consumption; report unlikely to postpone tapering of federal stimulus measures; focus turns to effects of Victorian shutdown, lower fiscal stimulus on Q3, Q4 GDP. Since the “recession we had to have” as the recession of 1990/91 became known, Australia’s...