Treasurer Josh Frydenberg has stated whether the Australian economy can avoid a second recession in as many years will depend on the success of the lengthy NSW lockdown.
NSW, which has been experiencing a failed easy lockdown in order to avoid extreme damage to the economy is now experiencing the worst resurgence of Covid in recent months. New cases soared to a record 239 on Thursday and the death toll in the current outbreak is 13.
Experts have said although international trade is strong and holding it all depends on what happens with the December quarter.