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There is no rhythm in Australia’s economy, just uncertainty mixed with hope | Greg Jericho

GDP figures out this week will probably look good, but there is still a big hole to fill and the future remains precarious

This Wednesday the latest GDP figures will be released marking a year since the economy began its sharp fall into a recession. In all likelihood the latest figures will show we are back (or nearly so) to where we were before the pandemic hit. But as nice as that would be, the numbers will only highlight how far the recovery still has to go.

The figures for the March quarter this year should be pretty good. The past two quarters saw the economic production in Australia grow by more than 3% – the first time that has happened over consecutive quarters.

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Read the original article at The Guardian

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