Centrebet financial analyst Neil Evans said the smart money had always been on the economy contracting in two consecutive quarters and that astute gamblers had always discounted claims that billion-dollar stimulus packages would keep the economy growing.
This week Prime Minister Kevin Rudd conceded he was wrong and that the economy would indeed go backwards in 2009.
"The up-side is that plenty of punters have backed the recession... as well as being a little more emotionally prepared for what might be coming," Evans said.
- DPA
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