SYDNEY (REUTERS) - Australia will suffer its biggest economic contraction since the 1930s in the first half of 2020 due to coronavirus-driven mobility restrictions, the central banker governor said on Tuesday (April 21).. Read more at straitstimes.com.
SYDNEY - Australia will suffer its biggest economic contraction since the 1930s in the first half of 2020 due to coronavirus-driven mobility restrictions, the central banker governor said on Tuesday .
"These are all very large numbers and ones that were inconceivable just a few months ago," Lowe said in a speech."They speak to the immense challenge faced by our society to contain the virus." The largest drop was in the accommodation and food services industry where a quarter of jobs were lost, while arts and recreation shed almost 19 per cent of workers.
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