Australia Wednesday recorded a 7 percent contraction in gross domestic product (GDP) in the June quarter, the worst decline in its history, and entered its first recession in nearly three decades.

"The global pandemic and associated containment policies led to a 7.0 per cent fall in GDP for the June quarter. This is, by a wide margin, the largest fall in quarterly GDP since records began in 1959," the head of National Accounts for the Australian Bureau of Statistics, Michael Smedes, said in a statement. EFE-EPA