How healthy is Australian economy and what can we hope from the next quarterly GDP?

Enjoying life in Hardware Lane Melbourne.

Sydney and Melbourne have suffered in lockdown and this has affected productivity. This is damaging but is economic health more than productivity? Source: Source: James Jardine /Creative Commons

Last week Australia’s June Quarter Gross Domestic Product were released. The figures as always drew positive and not so positive responses. The data left a couple of big questions, in particular how far the delta outbreaks in Sydney and Melbourne in late June will impact on Australia’s economic recovery and employment.

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Published 11 September 2021 11:55pm

By sri dean

Presented by sri dean

Source: SBS

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Last week Australia’s June Quarter Gross Domestic Product were released. The figures as always drew positive and not so positive responses. The data left a couple of big questions, in particular how far the delta outbreaks in Sydney and Melbourne in late June will impact on Australia’s economic recovery and employment.

Dr Peter McCawley AM, is a visiting fellow in the Indonesia Project at ANU and former Dean of the Asian Development Bank. He explains to Sri Dean the importance of GDP as an economic measure as well as its limitations. Looking to the future what known and unknown factors might impact Australia’s recovery?