Australia's Treasurer Frydenberg: Expect a 3% (or more) contraction for Q3 GDP

The September quarter in Australia was beset by periods of lockdowns covering around half of the country's population.  Treasurer Frydenberg flagging bad news for third quarter economic growth. Not unexpectedly.  More: Confident that the economy will bounce back  Consumption will help drive the recovery  Well, yeah. As Sydney and Melbourne (Australia's two largest cities) reopen from lockdown this quarter there will be a bounce back. 

Australia's Treasurer Frydenberg: Expect a 3% (or more) contraction for Q3 GDP

The September quarter in Australia was beset by periods of lockdowns covering around half of the country's population. 

Treasurer Frydenberg flagging bad news for third quarter economic growth. Not unexpectedly. 

More:

  • Confident that the economy will bounce back 
  • Consumption will help drive the recovery 
Well, yeah. As Sydney and Melbourne (Australia's two largest cities) reopen from lockdown this quarter there will be a bounce back.