Economy Update
Australian authorities confirmed that as of today, 120,000 homes in the eastern regions remain without electricity following the damage caused by Hurricane Alfred, which triggered widespread power outages two days ago.
On Sunday, the storm impacted approximately 310,000 homes in southeastern Queensland and at least 16,000 homes in northeastern New South Wales.
Although Hurricane Alfred has since weakened to a tropical depression, it continues to generate strong winds along the eastern coastline of Australia. These conditions have resulted in uprooted trees and downed power lines throughout southeastern Queensland and northeastern New South Wales.
This severe weather system struck the eastern coast on Saturday, bringing substantial rainfall and winds that raised fears of possible flooding while causing power outages to over 330,000 homes and businesses.
The now-depleted Hurricane Alfred has caused significant destruction, affecting trees, power lines, and various structures in the affected areas.
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