In mid-March over 60% of Australian businesses report being affected by the COVID-19 coronavirus.
This is up from a massive 45% points from a month ago, according to Roy Morgan Snap SMS Survey of 1148 Australian businesses.
Manufacturing, wholesale, and recreation & personal industries
Multiple industries have been hit especially hard by the virus.
- Manufacturing (78%),
- Wholesale trade (74%),
- Recreation & personal (83%),
- Information media & telecommunications (75%)
- Property & business services (74%)
- Transport, postal & warehousing (72%) reporting being affected by COVID-19.
States that have been hit hard
At a State based level, the biggest impact from COVID-19 has been felt by South Australia (68%), New South Wales (65%) and Victoria (64%).
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“The Morrison Government has already promised over $20 billion in stimulus to keep the Australian economy moving, however that figure will need to be raised many times over to truly protect the Australian economy from a devastating recession the likes of which Australia hasn’t seen this World War II,” explains Roy Morgan Chief Executive Officer Michele Levine.