ABS Reports A 0.3% Contraction In The Australian Economy

  • October 31, 2020 05:04 AM AEDT
  • Team Kalkine


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As per the report released by the Australian Bureau of Statistics (ABS) on 30 October 2020, the Australian economy has contracted by 0.3% in 2019-2020.

  • A plunge in household consumption reduced 1.6 percentage points from GDP.
  • Private investment reduced 0.8 percentage points because of lowered investment on dwellings and machinery and equipment.
  • Public demand added 1.4 percentage points to growth, with continuing expenditure on health and social services.




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