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Australia's COVID economic recovery the priority for Josh Frydenberg


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Australians passed a milestone in a marathon during the past few weeks when the country grew strongly enough to undo the great shrinking of the national economy last year.
Treasurer Josh Frydenberg will not even claim to have passed this marker in the recovery from crisis, but economists believe the nation’s gross domestic product is now as big as it was before the pandemic.
Treasurer Josh Frydenberg: ‘a natural optimist’, says one economist.
Credit:Alex Ellinghausen
This was not meant to happen so fast. The pandemic recession destroyed so much economic activity – as measured by the imperfect benchmark of real GDP – that most thought Australia would take years to regain ground. ....

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Australia's COVID economic recovery the priority for Josh Frydenberg

Australia's COVID economic recovery the priority for Josh Frydenberg
theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.

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A third of businesses that received JobKeeper say they will have to shut down


Business confidence in NSW fell in the first quarter of the year, with the end of JobKeeper having an impact.
The latest Business Conditions Survey from Business NSW conducted in March, found more businesses viewed the economy as getting weaker (39 per cent) than viewed it as getting stronger (29 per cent).
Business NSW chief executive Nola Watson said the data from both businesses in metropolitan and regional areas was concerning, but not totally unexpected .
About one third of businesses who received JobKeeper believe they may have to close their business, either on a temporary or permanent basis, when the full benefits of the program cease, Ms Watson said on Thursday. ....

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