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The Australian economy has rebounded in early 2021 from the impact of the COVID-19 pandemic restrictive measures that hit domestic demand during 2020.
Australian GDP growth in the fourth quarter of 2020 rose by 3.1% quarter-on-quarter, the second consecutive quarter of positive growth after Australia entered a recession in the first half of 2020 with two consecutive quarters of negative growth.
The Australian economy is showing improving economic momentum in the first half of 2021, helped by continued success during the first four months of 2021 in containing new COVID-19 pandemic cases.