GDP figures to reveal severity of Australia’s economic contraction

Economists are bracing themselves for a severe contraction in the nation’s economy when Australia’s GDP figures for the September quarter are revealed later today. Lockdowns, construction bans and supply chain issues during the nation's Delta outbreak effectively halted business in the nation during the three months leading up to September. A decrease in household consumption in the prior three months is expected to be the key factor in determining the severity of the nation’s economic downturn. General consensus suggests a decline of 2.5 per cent during the relevant period. Via news.com.au — Australia’s leading news site https://www.news.com.au