By Neil Griffiths 15 June 2021
Australia is experiencing a “V-shaped recovery” in regards to the economy’s growth from the COVID pandemic and there are a few key reasons why, according to Commonwealth Bank’s chief economist.
Delivering a keynote during a CEDA livestream on Tuesday, CBA chief economist and head of economic and market research, Stephen Halmarick, outlined seven factors that can be attributed to Australia’s economic recovery:
• Control of COVID-19
• Sharp rise in consumer confidence
• Surge in household savings
• Improving house market
• Jump in domestic tourism
• Strong resource exports
• Increase in public sector infrastructure spending