A recent publication from the ANZ looked at the GDP in a range of economies. Useful for discussion in class if you are doing GDP and business cycles.
- China has rebounded well
- UK and Euro area had the more severe downturns
- New Zealand has the steepest rebound from a lockdown period
- Interesting to note that the bottom of the downturn in all countries is in June 2020 with the exception of China.
Global GDP levels (Q4 2019= 100)
Source: New Zealand Weekly Data – 19th March 2021.