An economist says we need to be looking to the long term - as the latest GDP results confirm we're officially in a recession
An economist says we need to be looking to the long term - as the latest GDP results confirm we're officially in a recession
17 September 2020
Our gross domestic product shrank a record 12.2 per cent in the June quarter -- showing the impact of the March and April lockdown and border closures.
Bagrie Economics Managing Director, Cameron Bagrie, says based on Treasury's forecasts -- the real battle is yet to come.
He says unemployment is forecast to be in excess of seven per cent until 2023, so we will see tougher times for a while yet, before we get the economy back on a stronger footing.
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