Published 3 years ago

Australian economy expands by 3.1 per cent amid COVID-19

Summary

Australia's economy shrank in 2020 after suffering its first recession in nearly 30 years. Economic activity declined by 1.1 per cent over the calendar year, new Bureau of Statistics data show.

0 Articles

All

Left

Center

Right

Yahoo News

Australian Economy’s Recovery Intensifies With GDP Up 3.1%

(Bloomberg) -- Australia’s economy maintained its rapid recovery in the final three months of 2020 as households tapped their savings to consume and firms boosted investment, highlighting the nation’s successful pandemic response.Gross domestic product jumped 3.1% from the third quarter, when it rose a revised 3.4%, the Australian Bureau of Statistics said in Sydney Wednesday. Economists had forecast a 2.5% expansion. From a year earlier, the ec…

3 years ago·Los Angeles, United States

Read Full Article

The Guardian

Australia's economic recovery continues with 3.1% growth in December quarter

Treasurer Josh Frydenberg says the economy has recovered 85% of its Covid-induced fall twice as fast as expectedThe Australian economy grew by 3.1% in the December quarter as the domestic recovery from the pandemic-induced shock consolidated.The continued bounce back in growth late last year as coronavirus restrictions eased followed a 3.4% increase in GDP in the previous quarter. The September result followed a record 7% fall in GDP in June, tr…

3 years ago·London, United Kingdom

Read Full Article

Reuters

Australian economy storms ahead as COVID recovery turns 'V-shaped'

Australia's economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus.

3 years ago·United Kingdom

Read Full Article

Sydney Morning Herald

Economy ends 2020 with a bang but still hurting from pandemic

The economy expanded by 3.1 per cent in the final three months of 2020 as Victoria re-opened and consumers started to spend.

3 years ago·Sydney, Australia

Read Full Article

CNBC

Australia's economy expands at brisk pace in fourth quarter

The economy accelerated 3.1% in the three months to December, data from the Australian Bureau of Statistics (ABS) showed.

3 years ago·United States

Read Full Article

ABC Australia

GDP figures show economy shrank in 2020 but grew 3.1 per cent in December quarter

Australia's economy shrank overall in 2020, but the comeback that gathered pace over the second half of the year has caught experts and business owners alike completely off guard.

3 years ago·Australia

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year

Ground News Article Assistant

Not enough coverage to generate an Article Assistant.