Business
Don’t pop the champagne just yet on Australia’s economic recovery – Sydney Morning Herald
By any sensible measure, this recession won’t really be over for a while. The hard part of our recovery is just starting.
On a brighter note, the increase of 3.3 per cent in real gross domestic product during the September quarter, revealed by the Australian Bureau of Statistics in this weeks “national accounts”, does mean the recovery from recession is off to a good start.
So far, however, what weve had is not so much a recovery as a rebound. Remember, this unique recession was caused not by an economic threat, as normal, but by a health threat.
The contraction in GDP of a record 7 per cent in the June quarter was…
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