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Significance
The technical recession likely ended in the third quarter, helped by government spending and economic reopening, but GDP remains below pre-pandemic levels and the doubts over permanent demand destruction that assail other economies apply also to Australia. Questions remain over the government’s commitment to fiscal stimulus, which is opposed by its conservative faction.
Keywords:
Australia,
AP,
ASEAN,
China,
Pacific,
United States,
PROSPECTS 2021,
economy,
fiscal,
government,
growth,
monetary,
industry,
politics,
debt,
election,
energy,
environment,
foreign policy,
foreign trade,
investment,
party,
renewable energy
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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