The Australian economy has avoided a recession, bouncing back to positive territory in the final three months of 2016 – and bringing the country’s debt levels to their lowest in more than 30 years.
The economy expanded by 1.1 per cent in the December quarter, faster than expected by economists, after a shock 0.5 per cent decline in the previous three months.
The annual rate lifted to 2.4 per cent from 1.8 per cent, according to the Australian Bureau of Statistics.
The main contributions to growth came from household consumption and government spending, the data released on Wednesday showed.
Source: The Australian economy has avoided a recession | Daily Mail Online
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