25 Oct COVID-19 Impacts Explorer Update – A Tale of One City

New August and September impact estimates

The restrictions that have been in place throughout COVID-19 continue to impact the economy across Australia. However, the degree that these impacts are felt by industries and regions appears to be diverging.

The strict lockdowns in Metropolitan Melbourne to control the spread of COVID-19 are seeing the suppression of economic activity not only extending, but also deepening. Not surprisingly, Metropolitan Melbourne is the worst affected region in the country.

Regional Victoria, where restrictions were not as severe or prolonged has fared better but is still behind the other States and Territories. The chart below illustrates the difference in the drop, and recovery in industry output for Metropolitan and Regional Victoria compared to Queensland.

The August and September impact analysis has been uploaded to the COVID-19 Impacts Explorer – a public access resource presenting economic impact analysis for local government areas across Australia.

https://app.remplan.com.au/public/covid-impacts

A new feature in the REMPLAN COVID-19 Impacts Explorer application illustrates these changes through an animated time lapse, which demonstrates the impacts across the country from April to September.

The analysis over this period indicates that there are some areas of the country that are demonstrating a steady recovery.  However, uncertainty remains regarding the ongoing implications of restricted international and domestic travel and the movement of goods.

While the trans-Tasman travel bubble represents an initial step to easing travel restrictions, there is still a significant component of aggregate demand that is missing from the national economy due to restricted international travel, the reduction in overseas student numbers and the drastic decrease in overseas migration.  

REMPLAN will continue to update our COVID-19 resources to help regions understand how the changing conditions are impacting their local economies.

Questions?  Contact the team at REMPLAN:  1300 737 443.

Related Topics

REMPLAN JobKeeper Explorer:  https://app.remplan.com.au/public/jobkeeper

Insights into your region’s economy and the industries that drive it:  https://www.remplan.com.au/economy/