Victoria and NSW face deepest recession from virus: Westpac

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Victoria and NSW face deepest recession from virus: Westpac
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Westpac analysts says Victoria and NSW's dependence on tourism and education have put them at particular risk from the looming slowdown | swrighteconomy

Victoria and NSW are poised to face deep recessions due to the coronavirus pandemic with warnings their economic dependence on tourism and education have put them at particular risk from the looming slowdown.

The heavy dependence of the NSW and Victorian economies on tourism and education have left them particularly exposed.The government has conceded the nation is unlikely to avoid recession with some economists tipping the economy could contract by up to 10 per cent in the current June quarter alone.

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