Gov spending, fewer imports soften GDP fall

03 June 2020

 

Summary: GDP down 0.3% in March quarter; slightly better than expected; increased government spending and fewer imports counter big falls in household consumption, exports; worse expected in June quarter.   Since the “recession we had to have” as the recession of 1990/91 became known, Australia’s GDP growth has been consistently positive, with only the odd negative quarter here and there. Australia even managed to avoid two consecutive quarters of negative...

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