Summer bushfires and COVID-19 have caused a record collapse in household spending in the two biggest states, driving a 7.4 per cent fall in state demand for the June quarter.
All states suffered large falls in demand in their local economies, but smaller states and territories suffered less than NSW and Victoria, the national account numbers released on Wednesday showed.
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Tom Burton has held senior editorial and publishing roles with The Mandarin, The Sydney Morning Herald and as Canberra bureau chief for The Australian Financial Review. He has won three Walkley awards. Connect with Tom on Twitter. Email Tom at tom.burton@afr.com
