"The economic impact will be severe. Far more severe than what we have seen today. That's what Treasury's advice to me is."
Net trade contributed 0.5 percentage points to the result, but was this largely due to a drop of 6.2 per cent in imports. National Australia Bank forecast minus 0.1 per cent, ANZ predicted minus 0.2 per cent, Commonwealth Bank and AMP believed it would be minus 0.3 per cent while Westpac tipped minus 0.4 per cent.
JoshFrydenberg Even not 100% because fire's,coronavirus born in China poorly OH&S,what government don't care about enforcing OH&S rules good working practices,making Worksafe out of under Donna,Stop to Legislating to protect Bad bosses,Worksafe,like RoyalCommission not having OH&S Jurisdiction?
JoshFrydenberg Let's be very clear here. The coronavirus did not do this. The action the government took (and is still taking) in response to C19 did.
JoshFrydenberg Successive Aust gov'ts sold out to China. We couldn't fit any more poorly made junk into our overpriced realestate A virus shut many industries propped up its people by a huge gov't loan with welfare handouts = reccesion auspol nswpol vicpol
JoshFrydenberg Haha suck it Josh
JoshFrydenberg At least 10 people were killed when a bomb hit a mini-bus in Somalia .
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Australia in recession with first quarter of negative growth in nine yearsTreasurer Josh Frydenberg has acknowledged that Australia is in recession and the June quarter will be 'more severe than what we have seen today' The recession we didn't have to have... Frydenberg now cements his place as Australia's worst ever Federal Treasurer That'll happen when you shut down the economy for 3 months. And that quarter was before COVID19, so this is on the LNP govt.
Source: smh - 🏆 6. / 80 Read more »
Australia on track for recession with first quarter of negative growth in 9 yearsBreaking: Australia has recorded its first quarter of negative growth in nine years after bushfires and the early stages of the pandemic rocked the country The economy was sinking 2019 The current idiots over the last 7 years have near doubled the National Debt I have that sinking feeling The govt can turn this around now by ending the plandemic hoax, but they won’t as the traitors sold us out to the UN & World Bank. auspol
Source: smh - 🏆 6. / 80 Read more »
Australia will record its first recession in 29 years as March quarter GDP shrinksGDP figures from the Bureau of Statistics show Australia's economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the coronavirus pandemic. what a time to be alive smh The pundits keeps saying the economic downturn is due to travel bans and social distancing. This ignores the fact that most of us didn't want to go anywhere regardless. We were scared. What’s the value of the Back in the Black coffee mugs?
Source: abcnews - 🏆 5. / 83 Read more »
Australia's GDP falls by 0.3 per cent in March quarter | Sky News AustraliaAustralia’s gross domestic product has contracted by 0.3 per cent in the March quarter, paving the way for a technical recession – pending June’s results.\n\nA technical recession occurs after two consecutive quarters of negative GDP growth.\n\nJune is widely anticipated to be a negative quarter, as it will take into account the economic effects of the coronavirus.\n\nCommSec’s Craig James labelled the Wednesday's drop “truly remarkable” considering the events at the start of the year.\n NSW worst figures. And yet Sky & MSM keep saying the Libs are the best. recession2020 RecessionHereWeCome TheLiberalsRecession NotSoSmugNow are you JoshFrydenberg MathiasCormann ScottMorrisonMP AfternoonAgenda theprojecttv Pmlive
Source: SkyNewsAust - 🏆 7. / 78 Read more »
GDP tipped to contract by 0.4 per cent in March quarter | Sky News AustraliaEconomists are predicting Australia's growth will slip into negative territory when the March quarter GDP figures are revealed later this morning. \n\nTreasury has acknowledged the impact of the bushfires combined with the coronavirus crisis will weigh on the figures. \n\nGDP is tipped to contract in the March quarter by about 0.4 per cent. \n\nImage: Getty And I’m predicting the sun will set today. Bloody geniuses these economists. But the LiberalAus and The_Nationals are better managers of the economy, aren’t they? They wouldn’t use the pandemic as an excuse, would they? I look forward to Sky’s fair and balanced reporting and opinion about the recession and debt and deficit disaster... What is NDP?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Why is Australia's dollar surging even while the economy hurtles towards recession?Australia's currency has risen sharply against the greenback, even as the nation hurtles towards its first recession in nearly three decades. Why? Because EVERYONE’S economy is stuffed...? It just fell too much. It has historically been around the 70 to 75 cent mark What matters right now is why do so many not have enough to pay rent, the bills and bread for their kids - why are those expenses getting a lot harder to meet?
Source: abcnews - 🏆 5. / 83 Read more »