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Australia’s economy looks better than a year ago. But sadly we aren’t out of the Covid woods yet | Greg Jericho

Australia’s GDP recovery has slowed and looks set for a 4% fall in the September quarter

As expected, the June quarter GDP figures revealed record annual growth as the economy looks much better than it did this time a year ago. The problem, however, is that while the quarterly growth figures were fine, they will likely be the best we will see until next year as we remain buffeted by the Covid economic storm.

Everyone in Australia can pat themselves on the back, because in the June quarter the Australian economy was 9.6% larger than it was in the same quarter of 2020 – a figure that beat the previous record of 9% growth in March 1967:

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Read the original article at The Guardian

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