September’s GDP fall of 1.9 per cent ‘better than anticipated’

Sky News Business Editor Ross Greenwood says the the 1.9 per cent GDP contraction is better than anticipated and is largely attributed to booming iron ore and coal sales.

Some economists tipped the figure for the September quarter to be as high as three per cent due to much of the country being locked down.

“Significantly better than what was anticipated,” Mr Greenwood said.

“Australia again has shown its resilience in the face of this pandemic.”

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