Australia bounces out of recession but needs to avoid a trade war with China
02 December 2020 - 17:01
Sydney — Australia’s recovery is poised to accelerate as households with more cash — joined by Victorians released from Covid-19 lockdown — fuel a spending boom, after the economy exited its first recession in three decades.
GDP advanced 3.3% in the three months through September, exceeding estimates, as consumption surged by the most in the 60-year history of the report, the Australian Bureau of Statistics said in Sydney on Wednesday. The rebound came after the economy contracted 7% in the second quarter...
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