Business
Economy ends 2020 with a bang but still hurting from pandemic – Sydney Morning Herald
The economy expanded by 3.1 per cent in the final three months of 2020 as Victoria re-opened and consumers started to spend.
Direct government assistance in the December quarter was halved while the economy continued to grow, Mr Frydenberg said, adding the private sector was stepping up.
With an additional $240 billion accumulated on household and business balance sheets that was not there this time last year, there is substantial scope for the private sector to take advantage of the economic recovery, he said.
The strong result, above market expectations of 2.5 per cent, was driven strongly by the re-opening of the Victorian…
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