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Australian Economy to Contract 10%, Biggest Drop Since 1931

  • McIntyre: it’s cheaper to save firms, households than rebuild
  • Australia unlikely to return to pre-virus GDP for three years
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How Fighting Coronavirus Is Hurting the Global Economy

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Australia’s economy is poised for its deepest recession in 90 years as restrictions designed to mitigate the spread of coronavirus push firms and households to the brink, according to Bloomberg Economics.