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.
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