Business
ASX sags 0.2pc as Queensland closes border to Sydneysiders – The Australian Financial Review
The ASX edged lower, as confidence the country is recovering from the pandemic flagged after Queensland closed its state border to Sydneysiders.
Investors are concerned that border closures and lockdown could hurt a tentative economic recovery.
“The economy sits on the precipice of the COVID-19 induced recession and a considerable degree of uncertainty remains,” said Eleanor Creagh, Australian Market Strategist at Saxo Capital Markets.
The Australian Bureau of Statistics (ABS) said the country posted annual deflation for the first time since March 1998 after the headline inflation rate fell to -0.3 per cent in the year ended June 30.
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