An ICYMI on a report from KPMG, the consultancy estimate up to 1.5% will be stripped from GDP growth in Q3
- based on shutdowns of 40 days across Greater Sydney and 10 days in Victoria
- cost being mainly copped by private businesses and privately employed workers
Article is in the local media here (from Monday)
Add this in to the projections for an economic slowdown from, for example:
- HSBC expect Australia's economy to stall
- Goldman Sachs slashes its Australian Q3 GDP forecast nearly in half - citing Sydney coronavirus lockdown
Sydney and Melbourne are Australia's largest and second-largest cities (by far) in Australia's largest and second-largest states (by population).
