The statistics show that, as hoped for by the Government, the drivers of the economic growth are shifting away from COVID-19 related government support spending to additional expenditure by businesses and households.
Overall, we believe the unemployment rate will stay around its new level for the next few months as the economy consolidates and handles the transition out of high levels of government support to the business sector.
The latest GDP results shows the national economy screeched to halt in the June quarter of 2020, declining 7 percent from the previous quarter, to be down 0.2 percent year on year.
The September quarter 2016 GDP results confirmed what was expected, which is an economy that’s in reverse in real terms. Unfortunately, the key cause of this decline has been a…
