Australia’s economy makes sharp recovery, out of recession with 3.3% Q3 growth

Australia’s economy rebounded sharply in the third quarter of the current fiscal year and dragged itself out from the Covid-triggered recession. It posted a Q3 growth of 3.3% after a 7% contraction in June. This was largely possible as the country has brought the pandemic under control, enabling people to carry on their life and business as usual. Australia saw no new Covid-19 case since Monday.