Australian Economy

Australia is suffering from the worst recession in thirty years, due to Covid.

 

Australia also has a high rate among Type II diabetics because of so many obese people.

 

Yeah same with pretty much everywhere right now. I am still trying to get back there !....Virgin kindly cancelled my flight....sigh...

 

Good ol' California. Not complaining as I have it good here. And Melbourne's prob not the best place to be right now.

 

Is this supposed to be a burn?


Drop in GDP March to June Quarter, 2020

US -31.7%
UK -20.4%
Australia -7%

 

Headlines like worst recession in 30 years sound dramatic, until you realise our economy had been going gangbusters for those 30 years

I was expecting a far worse result than -7%

Unfortunately what -7% really means is that my dumbass country is more likely to prolong lockdown measures for longer and keep borders closed as it all didn't cost them as much as they thought it would so far


Grrrr

 

SEPTEMBER 5, 2020

Australia’s economy performing better than most amid pandemic

 

I'm not 100% on recession vs. strong performance. Recession is to jobs & economy is to... ? perhaps spending in the private sector.

 

I think Australia had heaps of warning that the virus was coming. Many countries suffered before Australia. I am very glad to be in WA as life is almost back to normal now.

 

I know lucky you are! I live in Perth and have been trying to get back for the last 6 months! Currently in California.