Australia Latest national accounts data shows GDP has improved

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Australia has experienced a ‘remarkable’ turnaround when compared with the rest of the world, the latest national accounts show.

Australia’s gross domestic product improved 3.1 per cent over the December quarter, a strong sign the economy is recovering from the downturn sparked by the coronavirus pandemic. 

Experts had been expecting an increase of just 2.5 per cent.

The Australian Bureau of Statistics said the rise followed a 3.4 per cent increase in the September quarter and was the first time in more than 60 years that levels of more than 3 per cent had been recorded in consecutive months.

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