2020, an unforgettable year: Australia's macro-economic journey
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This paper discusses Australia’s turbulent 2020 macroeconomic journey, focussing on:
Gross Domestic Product (GDP)/output
consumption
investment
government expenditure, and
employment.
At its lowest point, Australia entered its first recession in over 30 years. However, the latter part of 2020 saw a quick economic recovery, following the easing of public health measures.