# Australia's Economy Charges North

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Last modified: 2021-03-03

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By Paul Ebeling · 2021-03-03
Tags: Australia, economy, recovery, Headline News, Top Stories, Paul Ebeling, Australia, 2021, Austr
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#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!

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