Business
Westpac warns Victoria won’t see economic recovery until December – NEWS.com.au
Westpac warns Victoria’s economic plunge will be worse than initial lockdown shock
Westpac has warned Victorias stage four lockdown measures to combat the growing cluster of COVID-19 will wipe out any sort of economic recovery until December. The major bank’s chief economist, Bill Evans, said the state’s inability to control the virus was expected to plunge economic activity to levels below the initial shutdown shock experienced in April and May.
Westpac is expecting Victoria’s economy to shrink by 9 per cent in September, which will bring the state’s total contraction for bo…
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