Weekly economic update - 4 May 2020

Podcast & PDF

Information for advice professionals only.

This podcast further explores the COVID-19 situation and its effects on the economy and society. There have been calls to rethink the way we distribute income to look after the less fortunate and support those in hard times. The Australian Government has pushed aside the idea of achieving a budget surplus so it can provide stimulus to support the economy.

Listen to the podcast below or download the economic outlook commentary - May 4.

You can also access this podcast via Soundcloud.

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During March, share markets experienced the sharpest decline most investors have ever witnessed, with many assets underperforming cash on a monthly basis for the first time in over 30 years.

Disclaimer: This commentary has been prepared by Westpac Financial Services Limited for use by advisers and must not be made available to any client. The commentary provides an overview only and should not be considered a comprehensive statement on any matter or relied upon as such. Projections given are predicative in character and whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This commentary may also contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of, or endorses any such material.