Abstract
Later today we’ll know what the bushfires and the coronavirus did to the economy in the three months to March: whether gross domestic product grew (as is usual) or whether it shrank (as is rare, and heralds a recession).
Gross domestic product (GDP) is an imperfect measure of everything that’s produced in the three months (and also everything that’s spent and earned).
Imperfect or not, it is measured the same way every time, which is why changes in it give us a good idea of changes in what we produce and earn.
Most likely it will tell us that what we produced and earned shrank.
Gross domestic product (GDP) is an imperfect measure of everything that’s produced in the three months (and also everything that’s spent and earned).
Imperfect or not, it is measured the same way every time, which is why changes in it give us a good idea of changes in what we produce and earn.
Most likely it will tell us that what we produced and earned shrank.
| Original language | English |
|---|---|
| Pages | 1-4 |
| Number of pages | 4 |
| Specialist publication | The Conversation |
| Publisher | The Conversation Paperpress |
| Publication status | Published - 3 Jun 2020 |