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Australia joins the club only as growth continues before the epidemic

Australia’s economy has begun to decline in the Covid-19 economy, growing 1.8% in the first three months of 2021 compared to the previous quarter due to the re-growth of businesses and the sale of steel products.

More than expected growth means the economy is now 0.8 percent larger than the coronavirus before it was discovered in China in December 2019, promotion Australia being a group of countries that grew 15 months ago.

But economists have warned of a slowdown in vaccination in the country and the emergence of the Covid-19 in Melbourne, which has left the Victorian government in jeopardy, jeopardizing recovery and could jeopardize growth.

“Australia is a very rare company here,” said Kristian Kolding, an economist at Deloitte Access Economics. “Only five other countries can boast of a growing economy here before the epidemic. And we have achieved this goal by keeping Covid numbers compared to anywhere else. ”

Australian authorities have been able to crack down on Covid-19 as well as ways to boost business confidence, resulting in a 5.3% increase in private sales in March.

Commercial sales were driven by 11.6% of machinery and equipment, which has grown significantly since the December quarter of 2009. Home investment increased 6.4% compared to the previous quarter.

Year after year, domestic production increases by 1.1 percent. Wealth he grew up 3.2 percent in the December quarter compared to the September quarter.

Australia’s recovery has been boosted by rising commodity prices, especially for metals, and trade – the value of exports compared to exports – is rising 7.4% in the first quarter. This resulted in the country’s gross domestic product earning A $ 18.3bn ($ 14.2bn) at the end of March.

Trade disputes with China, sparked by a call by Canberra to inquire about the origin of Covid-19 explosion in Wuhan, has failed to reduce Beijing’s exports without finding alternatives to steel production.

Only Australia, China, Chile, Romania, South Korea and Lithuania have grown their wealth since Covid-19’s tenure, according to a study by Deloitte Access Economics. The estimated wealth of OECD countries, the group of rich countries, was 2.7% lower than it was before the epidemic.

The virus, however, remains complex. On Wednesday, authorities closed seven days in Melbourne for sanctions while only 4.4m of 40m jabs are needed to meet the 25m population.

“The success of the international community depends to a large extent on the rapid development of vaccines,” said Saul Eslake, a colleague at the University of Tasmania.

“And in front of us we are behind the UK, US, Canada and even many European continents. That is why it is not certain that we will remain in the forefront of the movement.”

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