Business
Australian economy swells as consumer spending surges: ABS – Sydney Morning Herald
New data from the ABS shows the Australian economy is back growing again, after its deepest three month drop in activity in the June quarter.
The head of national accounts at the ABS, Michael Smedes, said the easing of social distance and trading conditions through the quarter had helped drive the result.
He said household spending was up by 7.9 per cent after falling by 12.5 per cent in the June quarter. Spending on services jumped by 9.8 per cent as restrictions on hotels, cafes and restaurants eased.
A surge in consumer spending drove the economic growth.Credit:Joe Armao
Demand for goods rose by 5.2 per cent.
In a sign of the impact…
-
General15 hours agoAlleged Croydon Park gunman Artemios Mintzas charged with 25 offences
-
Noosa News23 hours agoPrime Minister Anthony Albanese calls for political temperature to be ‘turned down’ after alleged death threat
-
General21 hours agoTeam Australia wins back-to-back Motocross of Nations titles
-
Noosa News21 hours agoYork family honours late son with tractor museum to fund cancer research