Business
GDP figures show economy shrank in 2020 but grew 3.1 per cent in December quarter – ABC News
Australia’s economy shrank overall in 2020, but the comeback that gathered pace over the second half of the year has caught experts and business owners alike completely…
Australia’s economic bounce-back from the COVID-19 pandemic has caught most economists and business operators off guard.
Key points:
- Australia’s economy rebounded strongly in the last six months of 2020
- In the December quarter, the economy grew 3.1 per cent, after September quarter growth of 3.4 per cent
- However, overall, the economy shrank by 1.1 per cent in 2020
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