COVID-19 Impacts: ANZ Insights Podcast – How Long Until the Good Times Return?

NEWS

COVID-19 Impacts: ANZ Insights Podcast – How Long Until the Good Times Return?


The crisis is a health problem, not an economic one. The economic downturn is the side effect of shutting down nations and the world to combat the spread of COVID-19. Six hundred thousand jobs have been lost by forcing stay-at-home measures, shutting down markets and almost wiping industry in a matter of days.

dreamstime_xl_44086996

The quarantine measures have had a significant and growing impact on domestic and international supply chains. Australians have been significantly disrupted by social distancing measures which have reduced economic activity. The Australian Government, National, State and Territories have done well in slowing the spread of the virus and providing JobKeeper and JobSeeker stimulus to keep the economy going. The problem is they cannot do it for long.

Economists agree, the depth of the downturn is no longer the main issue; it’s the duration. Listen to the ANZ Institutional Podcast for further insight and expand your understanding.

Visit ANZ Institutional Insights for more compelling articles and podcasts.

Note: the podcast offers insight and should not be taken as financial advice. Original article can be found by clicking here.