Australian Treasurer Chalmers will speak on Tuesday (local Australian time), addressing the impact of a cyclone (that was downgraded from cyclone when it made landfall) that hit coastal communities in Queensland and NSW.
Chalmers will speak of:
- preliminary estimates of the GDP subtraction of around quarter of a
percentage point off quarterly growth - could also
lead to upward pressure on inflation via increased building costs, damaged
crops raising prices for staples like fruit and vegetables - temporary shutting of businesses due to the cyclone lost about 12
million work hours
This article was written by Eamonn Sheridan at www.forexlive.com.
