Australian economy’s recovery intensifies, with GDP jumping 3.1%

Australia 🇦🇺

Australia’s economy powered into 2021 on solid footings as households remain cashed up to consume and a pipeline of residential construction is established for the period ahead.

Gross domestic product jumped 3.1% in the final three months of last year from the prior quarter, when it rose an upwardly revised 3.4%, the Australian Bureau of Statistics said in Sydney Wednesday. That was the first back-to-back expansions above 3% since quarterly records were established in 1959.

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