2020, an unforgettable year: Australia's macro-economic journey
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.