Below is Deloitte Access Economics’ Weekly economic briefing with what sure looks like a double-dip recession to me:
Deloitte Access Economics’ latest Business Outlook suggests that while Delta strain outbreaks of COVID-19 and associated lockdowns have delayed Australia’s economic recovery, a strong post-pandemic recovery is still on the table.
The impact of lockdowns through mid-to-late 2021 has clearly caused great economic harm – we estimate, for example, that the economy may have shrunk by almost $18 billion in the September quarter. Many businesses have been unable to operate, those businesses’ employees have been unable to work, and confidence has taken a hit.
