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Economics

Oil tanks

BENJAMIN ONG  |  TUESDAY, 21 APR 2020
With planes, trains and automobiles all at a virtual standstill and factories in lockdown, the planet is drowning in oil and nowhere to store them.

Millions jobless within weeks: Grattan

HARRISON WORLEY  |  MONDAY, 20 APR 2020
New Grattan Institute analysis estimates up to 3.4 million Australians could soon be out of work.

The great fall of China

BENJAMIN ONG  |  MONDAY, 20 APR 2020
We, Australians all, are in for a lot of bother. This is because not only is out numero uno export market on the ropes (buying 32.7% of our total exports as at 2019), the second - Japan (9%) - third - South Korea (5%) - fourth, fifth and down the line ...

Chief economist update: Surveys say...

BENJAMIN ONG  |  FRIDAY, 17 APR 2020
With the ABS reporting increased employment, has Australia again lived up to its tag as 'the lucky country' and dodged the fallout from COVID-19?

Australia versus the world

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
While industry professionals praised the government's stimulus package, the International Monetary Fund seems convinced it's not enough. So who is right?

Worse than the Great Depression: IMF

ELIZA BAVIN  |  WEDNESDAY, 15 APR 2020
The International Monetary Fund has predicted Australia's GDP will be -6.7% this year due to the effects of COVID-19.

Chief economist update: How deep the global recession?

BENJAMIN ONG  |  WEDNESDAY, 15 APR 2020
Looking back at the IMF's forecasting history during the GFC, as late as October 2009 it predicted world GDP to decline by 1.1%. As it turned out, world economic growth contracted (based on IMF data) by 0.7% in 2009.

Chief economist update: BOK holds as infections ease

BENJAMIN ONG  |  TUESDAY, 14 APR 2020
Positive developments in South Korea's fight against COVID-19 may have eased its central bank's emergency response, but the virus will still make its mark on the economy.

Australia's AAA rating at risk

ELIZA BAVIN  |  THURSDAY, 9 APR 2020
S&P Global Ratings revised Australia's AAA credit rating outlook to negative in the wake of the economic impacts of COVID-19.

Economic impact worst since WWII: Research

HARRISON WORLEY  |  THURSDAY, 9 APR 2020
The economic impact of the COVID-19 pandemic is the biggest shock to the Australian economy since World War II, according to Roy Morgan.