The possible economic consequences of a novel coronavirus (COVID-19) pandemic

Description

At the start of 2020, the world watched on as the Chinese city of Wuhan (11 million residents), and then the province of Hubei (60 million residents), went into lock down.
The hope was that the newly emergent coronavirus – later renamed formally as the novel coronavirus (COVID-19) – would be contained.

Despite unprecedented steps to stop the spread of the virus, we began to see disruption to the Chinese economy, and subsequent contagion to other economies as the movement of people became restricted and supply chains became disrupted.

This report details the following Government, consumption and GDP impacts to Australia and the world.