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Australia’s Economy Charges North

#Australia #economy #V-shaped #recovery

There are challenges ahead. But you would not want to be in any other country but Australia as we begin 2021“– Treasurer Josh Frydenberg

Australia’s economy expanded faster-than-expected pace in Q-4 of Y 2020 and all signs tell us that Y 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus.

The economy accelerated 3.1% in the Q ended in December, data from the ABS (Australian Bureau of Statistics) showed Wednesday, higher than forecasts for a 2.5% rise and follows an upwardly revised 3.4% gainer in Q-3.

The V-shaped recovery is everywhere: economic growth, the job market, retail spending and the housing market,” said HeffX-LTN’s Shayne Heffernan, PhD.

PhD Economist Heffernan expects the economy to rebound 4.2% in Y 2021.

Our economic recovery plan is working, and today’s national accounts is a testament to that fact,” Treasurer Josh Frydenberg said in a news conference. “The job is not done,” he added.

“There are challenges ahead. But you wouldn’t want to be in any other country but Australia as we begin 2021.”

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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