‘Unique Nature’ of Pandemic Economic Downturn Behind the Strength of Australia’s Recovery: RBA
The Reserve Bank of Australia hs said the recovery from the current economic downturn will be significantly different to the recovery from past economic shocks such as the Global Financial Crisis and the Great Depression.
RBA Head of Economic Analysis Brad Jones said in a keynote address at the Minerals Week Australia-Asia Investment Outlook that the current economic shock was different from other episodes, giving the current economic recovery a brighter outlook.
One difference is the origins of the COVID-19 economic contraction, which originated from a severe shock in the global supply chain, unlike the GFC, which originated from the collapse in parts of the financial system.
What keeps consumers hooked on high sugar soft drink? Advertising, of course. But why are some consumers more adept at ignoring these cues than others? A new study from Flinders University, published in Appetite , has found participants with an .
Victorian household consumption jumped by 3.2% in the March quarter, the strongest of any state or territory, after the state emerged from its second wave of coronavirus lockdown in late November.
The bullish gross domestic product figures were released as the Victorian government extended a lockdown on Melbourne for another week, and is engaged in a blame game with the federal government over its refusal to offer further financial assistance
in the lockdownâs first week.
At a press conference in Canberra, treasurer Josh Frydenberg was peppered with questions about whether the federal government will soften its stance on financial assistance for the state.
SYDNEY: Australia's economy extended its rapid recovery in the first quarter as consumers and businesses spent with abandon, lifting output back above.
6/2/2021 1:33:23 AM GMT | By Ross J Burland
Following some strong partials the prior day, Australia’s first-quarter national accounts have been released as follows in the form of Gross Domestic Product data:
Aussie GDP
Q1 real gdp +1.1 pct YoY, s/adj (Reuters poll +0.6 pct).
Q1 final consumption expenditure +0.7 pct, s/adj.
Q1 gross fixed capital expenditure +4.7 pct, s/adj.
Q1 chain price index +3.1 pct.
AUD has hardly reacted (10-pip pop) to the better than expected outcome while markets are likely paying more attention to the Reserve Bank of Australia s focus on subdued inflation and wage pressures as well as virus uncertainty.