Victorian economy could lose four years of growth due to virus lockdown

Lockdowns to stop the spread of coronavirus across Victoria could punch a $41 billion hole in the state's economy and drag it back to where it was in 2016 with fresh warnings its COVID-19 outbreak is holding back the entire nation. Forecasts from both the ANZ and the NAB suggest the Victorian economy will this year suffer the single largest economic hit of any state or territory on record that will also drive up unemployment and weigh on wages growth.