Business
We’re in for a long haul to get the economy working properly – Sydney Morning Herald
The coronacession is the worst downturn since the Great Depression in the 1930s, and don’t expect there’s a quick way out of it.
This coronacession is distinguished by its very front-loaded and cruelly uneven nature. Unlike past recessions, which usually evolve over a year or so, most of the contraction in the economy took place within two short months, Bassanese says.
The sudden need to lock down much of the economy and get people to leave their homes as little as possible raises the hope that, as the economy is re-opened, much of that activity will be resumed. And if we switch the focus from whats happening to GDP the …
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