There are ‘pretty good signs’ for recovery despite recent economic downturn

Treasurer Josh Frydenberg says there are “good signs” for the economy going forward.

“More than 80 countries have seen lockdowns over the course of the Delta outbreak but we had our two biggest states, New South Wales and Victoria, in extended lockdowns and the New South Wales economy contracted by 6.5 per cent for the September quarter,” he told Sky News Australia.

Mr Frydenberg said the lockdowns “are behind us” and there have been 350,000 job positions return since September and businesses are recovering.

“We know that job ads are more than 30 per cent higher than going into the pandemic, business investment is more than nine per cent higher through the year and business investment intentions in the non-mining sector are the highest on record,” he said.

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