Miscellaneous

Aussie GDP roars back on free money!

David Llewellyn-Smith
Wednesday 2 December 2020
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Via the ABS:

  • The Australian economy rose 3.3% in seasonally adjusted chain volume measures
  • Through the year GDP fell 3.8%
  • The terms of trade rose 0.7%
  • Household saving ratio decreased to 18.9% from 22.1%

Twas’ mostly a reopening private sector:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.