{"id":32417,"date":"2020-08-07T21:52:46","date_gmt":"2020-08-07T17:52:46","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=32417"},"modified":"2020-08-07T21:52:49","modified_gmt":"2020-08-07T17:52:49","slug":"rba-expects-economy-to-contract-by-4-in-2020","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/rba-expects-economy-to-contract-by-4-in-2020\/08\/07\/market-updates\/","title":{"rendered":"RBA Expects Economy to Contract by 4% in 2020"},"content":{"rendered":"\n<p>The Reserve Bank of Australia (RBA) is not expecting the gross domestic product (GDP) to contract by more than 4% in 2020, before recovering by 6%.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;We estimate that activity contracted severely in the June quarter of this year, but began to recover late in the quarter.&#8221;<\/p><\/blockquote>\n\n\n\n<p>The central bank\u2019s economic outlook report showed that \u201cthe economic contractions induced by health-related restrictions on activity in the June quarter were very large. However, they were not quite as severe as initially expected.\u201d<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cConsequently we now think that, even though the initial contraction was smaller, the subsequent recovery is likely to be more protracted and progress on reducing unemployment will be slower.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of Australia (RBA) is not expecting the gross domestic product (GDP) to contract by more than 4% in 2020, before recovering by 6%. &#8220;We estimate that activity contracted severely in the June quarter of this year, but began to recover late in the quarter.&#8221; The central bank\u2019s economic outlook report showed that &hellip;<\/p>\n","protected":false},"author":10,"featured_media":32418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[7036,6965,7035],"class_list":["post-32417","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-aud","tag-australia","tag-rba"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=32417"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32417\/revisions"}],"predecessor-version":[{"id":32419,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/32417\/revisions\/32419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32418"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=32417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=32417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=32417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}