Australia GDP Data Release 2Q21
Lockdowns loom large over positive 2Q21 GDP result
Australia’s economic rebound continued in 2Q21, albeit at a slightly slower pace. GDP grew 0.7% growth in the quarter. This was the fourth consecutive quarter of growth following the 1H20 recession and annual growth jumped from 1.1% last quarter to 9.6%, reflecting the fact that 2Q20 was the trough of the recession.
Nevertheless, much has changed since the end of 2Q21 and the wave of ‘delta variant’ COVID infections and subsequent lockdowns in much of the country have reminded everyone how quickly things can change.
For the real estate implications of the outlook, please click below.