How about that Aussie economy?
It’s growing, according to yesterday’s official update for January-March. And unlike the waistlines of many who have joined the WFH army (ahem…), the Aussie economy is back to its pre-pandemic size. In fact, it’s in better shape. Our Gross Domestic Product (GDP) grew another 1.8% in the first quarter of this year, taking annual economic growth to 1.1% – all driven by confident consumers, analysts say. It’s an incredible thing, given the doom and gloom predictions a year ago. And Deloitte Access Economics says we are one of just 6 countries that can boast about an economy that’s bigger than before COVID-19. But analysts say it’s not all smooth sailing from here. “The primary threats to the economic recovery are a broad Australian ‘second wave’ of the virus and a slow, extended vaccine rollout,” said CommSec’s Craig James.
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