Overview

• Treasury analysis attributes a $2.2 billion loss in economic activity to Cyclone Alfred and widespread flooding in Queensland and New South Wales
• Severe flooding in NSW’s Hunter and Mid North Coast regions damaged about 10,000 buildings, rendered roughly 1,000 uninhabitable and claimed five lives
• Partial March quarter data show nominal retail trade in Queensland fell 0.3 percent in February and 0.4 percent in March while household spending dipped 0.2 percent in the state
• Disaster assistance programs have reached communities in the Hunter and Mid North Coast of NSW as well as affected areas in Queensland
• Treasurer Jim Chalmers said Wednesday’s national accounts will capture most of the immediate economic losses from the disasters