Having looked weak prior to the outbreak and spread of the coronavirus, Australia’s immediate growth prospects look very challenged. From education to tourism, demand for raw materials and supply chain disruption, few sectors of the economy are likely to be immune to the virus impact.
Uncertainty prevails and despite interest rate cuts any improvement in consumer and business confidence is likely to be on hold until more is known about the scope and spread of the virus or if a vaccine is developed.
Article written 5 March 2020.
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