Australia s economy grows 3.1 per cent in the past three months as COVID recovery continues
Australia s economy has grown 3.1 per cent in the December quarter as the nation recovers from the COVID-19 pandemic.
New data from the Australian Bureau of Statistics (ABS) shows the nation s gross domestic product â or GDP â lifted 3.1 per cent.
It s the second quarter in a row that Australia has recorded a positive increase in GDP.
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Mining exports make up a large chunk of GDP.(AAP)
This is the first time in the over 60-year history of the National Accounts that GDP has grown by more than 3.0 per cent in two consecutive quarters.
Data released by the Australian Bureau of Statistics ABS on Wednesday revealed that the countrys economy has continued to recover from the Covid19 crisis
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Feren Yen and Sam Tan’s Downward Duck yoga studio was one of the Victorian businesses central to Australia’s extraordinary economic recovery in December.
Household spending by Victorians increased 10.4 per cent in the December quarter – the biggest surge since records were kept – as tough lockdown restrictions were lifted and people could head back to spending on services such as yoga.
Feren Yen at her Yoga Studio in Melbourne’s Springvale. She is hoping that more people will feel comfortable about going back to yoga.
Eamon Gallagher
Spending on recreation and culture in Victoria over the three months skyrocketed 24 per cent – also the highest on record.