A 'devastating day' for Australia: PM
Prime Minister Scott Morrison has addressed the GDP figures in Question Time, calling it “a devastating day for Australia”.
Economic growth contracted by seven per cent in the June quarter, the largest quarterly fall on record.
This contraction follows last March’s GDP figures, which saw a drop of 0.3 per cent, largely attributed to the devastating bushfires in the early months of 2020, and not the full impacts of the coronavirus.
“The COVID-19 global recession and pandemic that has impacted the world has impacted Australia,” Mr Morrison said.
“Australians know that’s the case, Mr Speaker. Australians know, Mr Speaker, that many, many months ago that this day would come.
“And this day has come.”