Unprecedented Spending Leads Australia out of Recession: Treasureron October 29, 2021 at 5:19 am

The Australian Treasurer Josh Frydenberg said an unprecedented level of spending enabled the country to endure a COVID-19 recession. The latest figures from the Australian Bureau of Statistics (ABS) revealed that monthly retail sales rose for the first time in September since the onset of Delta restrictions in May. “We’ve certainly had to spend in an unprecedented fashion because we’ve faced the biggest economic shock since the Great Depression,” Frydenberg told Sky News Australia. “And that full‑court press enabled Australia to have one of the strongest recoveries of any advanced economy across the world.” “So today’s numbers do show that the economic come back is on,” he said. Non-food industries experienced the biggest rise in sales as restrictions began easing, as more people went out to buy household goods and clothing, footwear, and personal accessories. “Retail turnover continues to vary by state, based on whether restrictions were imposed, removed or …

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