Skip to content
Markets
Economics

Australia’s Lockdown Probably Sent Economy to Second-Biggest Slump

  • Households income-savings likely resumed climbing on stimulus
  • Services spending probably ground to a halt due to lockdowns
Sydney Breaks Another Record Amid Struggle to Suppress Delta
Photographer: Brendon Thorne/Bloomberg
Updated on

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Australia’s economy probably posted its second-largest contraction on record as businesses were forced to shutter and states sealed borders to try to contain a raging outbreak of the delta variant of coronavirus.