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AU data to show economy before mass lockdowns
New economic figures in the next week or so will provide some idea what speed the economy was travelling in the June quarter before it was struck by mass virus lockdowns across the country. While the June quarter national accounts due for release on September 1 will be somewhat dated, it will provide a starting point for an expected contraction the September quarter. "The extension of the lockdowns announced over the past week will mean a much bigger hit to the economic outlook than we were assuming just two weeks ago," AMP Capital chief economist Shane Oliver said. He now expects the economy will contract by around ... (full story)