Quarterly GDP figures mask woes of struggling sectors, says industry body
Australia’s miraculous economic recovery from the coronavirus crisis does not show the full picture of sectors still affected by restrictions and require further support, according to a peak industry body.
The Australian Chamber of Commerce and Industry responded to the latest ABS National Accounts data, saying it shows the economic recovery is now well underway, with GDP growth for the December quarter exceeding expectations, up a further 3.1 per cent, taking the year-on-year rate for 2020 to -1.1 per cent.
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