Australia’s Economy Grew Before Strict Lockdowns Went into Effect
Australia’s economy grew in the second quarter before facing strict lockdowns with combating the corona pandemic.
Economists, therefore, expect that the economy will be hit hard by those lockdowns in the third quarter. However, unlike many other countries, Australia was open for a long time.
Still, since the end of June, several cities, including Sydney, have been in strict lockdown due to the advance of the Delta variant of the coronavirus.
People have to stay at home as much as possible, and the borders are closed to keep the virus out. Australia is working to vaccinate as many people as possible. That should help ease lockdowns later this year.
The Australian economy grew by 0.7 percent compared to the first quarter. However, compared to a year earlier, when the country was hit hard by the corona crisis, record growth of 9.6 percent was measured.