Australia's GDP = gross domestic product growth rate from July to September was minus 1.9% compared to the previous three months, and economic activity was severely restricted due to the spread of the new coronavirus infection. Due to the influence, it became negative for the first time in 5 terms.
The Australian Bureau of Statistics announced on December 1 that GDP growth from July to September was minus 1.9% in real terms, excluding price fluctuations, compared to the previous three months. ..
It is the first time in five quarters that the growth rate will be negative, and since June, due to the spread of the new coronavirus infection, "lockdown" has been carried out in major cities such as Sydney, which severely restricts going out and economic activities. The main factor is the decline in personal consumption.
Treasury Minister Frydenberg said in a press conference, "This number shows the enormous economic cost of'lockdown'."
In Australia, restrictions on going out and economic activities have been gradually lifted since October, and restrictions on foreign traffic have been gradually relaxed.
However, since people infected with the new mutant virus "Omicron strain" have been confirmed in Japan, we are strengthening border measures, and there are concerns about the impact on the future of the economy, especially in the tourism industry.