Research

Australia GDP Data Release 4Q21 

Growth was strong in 4Q21 ahead of Omicron impact

March 04, 2022
Contributors:
  • Leigh Warner

GDP rebounded by 3.4% in 4Q21, which follows a 1.9% decline last quarter in the midst of extensive lockdowns across the country. Despite a lot of see-sawing from quarter to quarter, the economic recovery has been strong overall and annual GDP growth was a strong 4.2% over 2021. Nevertheless, the health situation remains fluid and the spread of the Omicron COVID-19 variant has undoubtedly dented momentum again at the start of 1Q21.

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