Coronavirus Australia: Melbourne CBD needs to ‘swing hard’ to recover from double-digit economic hit

  • Almost every area across Victoria will see declines in local economies, with only a handful of regional areas avoiding the falls.
  • Retail and hospitality-driven city centres across the nation have been ravaged by restrictions introduced in March, with the Melbourne CBD economy expected to decline by 10 to 12.5 per cent.
  • Mr Rawnsley said Melbourne’s regions were a ” patchwork” in terms of the economic outcome, with every area declining at different rates.
  • East Gippsland in Victoria and Kangaroo Island in South Australia, both severely damaged by the bushfires, are expected to see falls of more than 15 per cent.

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