Victorian household consumption jumped by 3.2% in the March quarter, the strongest of any state or territory, after the state emerged from its second wave of coronavirus lockdown in late November.
The bullish gross domestic product figures were released as the Victorian government extended a lockdown on Melbourne for another week, and is engaged in a blame game with the federal government over its refusal to offer further financial assistance
in the lockdownâs first week.
At a press conference in Canberra, treasurer Josh Frydenberg was peppered with questions about whether the federal government will soften its stance on financial assistance for the state.
Due to a rebound in business investment and a surge in iron ore exports, the Australian economy has fully recovered from the Covid-19 recession, with an
Australia s economy has rebounded much quicker than expected after growing a massive 1.8 per cent in the first quarter of the year as strict Covid-19 restrictions have been eased.
The Australian economy is larger now than it was before the pandemic. GDP growth since December 2019 is 0.8%. It is one of five countries to grow during this time.
Australian economy growing, exceeding pre-pandemic levels: govt laprensalatina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from laprensalatina.com Daily Mail and Mail on Sunday newspapers.