December GDP beats estimates as fiscal supports declines

03 March 2021

 

Summary: GDP up strongly in December quarter, better than expected; economy still 1.1% smaller than December 2019; “continued evidence of Australia’s bounce back”; economy continues recovery despite declining fiscal stimulus; household consumption spending up strongly, contributes bulk of rise; spending linked to reopening.   Since the “recession we had to have” as the recession of 1990/91 became known, Australia’s GDP growth has been consistently positive, with only the odd negative...

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