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Australia

Australian economy coming out of COVID is in an ‘extraordinarily difficult period’

Westpac Chief Economist Bill Evans says the economy coming out of COVID is an “extraordinarily difficult period” as people start to spend more with higher inflation spill-over.

“Coming out of COVID is just an extraordinarily difficult period,” Mr Evans told Sky News Australia.

“We’ve seen these extraordinary legacies from that, the fact people have been saving so much money and they’re now wanting to spend, the reopening effect.

“It’s all a function of very strong spending but unfortunately the spill-over is high inflation.”

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