Economic momentum in NSW was subdued even before the bushfires and pandemic hit.
The lockdown began late in the March quarter so its full economic impact was not reflected.
The sharp decline in consumer spending in NSW was offset to some extent by a 1.8 per cent lift in government expenditure in response to the bushfires and COVID-19. Housing construction in NSW declined 4.5 per cent in the first three months of 2020 to be down 17 per cent. New housing construction has now fallen by more than 30 per cent since its peak in 2017.
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