Australian GDP growth figures receive positive upgrade

The latest national accounts will be released today and it is anticipated the figures will confirm Australia has roared out of recession. Economists from major Australian banks are predicting GDP growth from between per cent in the September quarter. As borders open and restrictions ease across the nation, the OECD has upgraded its growth forecasts for Australia, changing its prediction from a 4.1 per cent GDP contraction to a 3.8 per cent contraction over the course of this year.