Australia Economy Growth
10 June 2020 by News DeskAustralia economy: the country is coming out of the crisis in better shape than expected and unemployment is unlikely to hit double figures.
That’s the view of analysts and government ministers down under following a review of the ongoing COVID-19 situation.
”Australia seems to have avoided the expected cycle of destruction and economic growth could soon start to accelerate. Australia is still the ‘lucky country’”, says Darrell Todd, ceo of thinkingAustralia.
For the first time, no new coronavirus cases from community transmission have been recorded in Australia.
Students in every state and territory have now officially returned to classrooms. Students in Victoria and Tasmania have returned to school, bringing an end to weeks of remote learning.
West Australian AFL teams are arriving in Queensland ahead of the season’s restart on Thursday. In South Australia a crowd of 2000 will be allowed at this weekend’s match between Adelaide and Port Adelaide. Small crowds could be returning to the NRL sooner than expected.
Australia economy growth
Australia economy may have avoided the worst of the coronavirus emergency but other countries are not so lucky.
The US ended its longest expansion in history in February and has also entered recession as a result of the coronavirus pandemic.
And the World Health Organisation warned that the pandemic was still worsening globally, while the World Bank has forecast the worst global recession in eight decades.
Worldwide the death toll is around 407,000. More than 7.1 million people have been infected and more than 3.3 million have recovered, according to the Johns Hopkins University
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