Treasurer Josh Frydenberg to take the stage at the National Press Club to wave a red flag of a possible 10 to 12 per cent decline in the gross domestic product during June quarter alone.
- As stated by the treasurer to numerous media houses, the restriction imposed by Governments could taper $4 billion of economic activity per week.
- The treasurer would now use the National Press Club speech to warn against the economic shock associated with the COVID-19 outbreak, which as per the extract would have been more severe if the country had followed Europe in imposing broader lockdowns of all non-essential services.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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