A consumer-led spending surge after last year’s Delta-lockdowns has recouped all of the economy’s coronavirus losses, according to the latest national accounts figures.

The Australian economy expanded by 3.4 per cent through the final three months of 2021, while household spending increased by 6.3 per cent.

Australians are saving more than before the pandemic, putting aside more than 13 per cent of their pay packets.

But cost of living pressures are real - wages grew by 2.3 per cent in the year to December, while inflation’s up by 3.5 per cent in the same period.

Today on Please Explain, Bianca Hall is joined by senior economics correspondent Shane Wright.

A consumer-led spending surge after last year&rsquo;s Delta-lockdowns has recouped all of the economy&rsquo;s coronavirus losses, according to the latest national accounts figures.
The Australian economy expanded by 3.4 per cent through the final three months of 2021, while household spending increased by 6.3&nbsp;per cent.
Australians are saving more than before the pandemic, putting aside more than 13 per cent of their pay packets.
But cost of living pressures are real - wages grew by 2.3 per cent in the year to December, while inflation&rsquo;s up by 3.5 per cent in the same period.
Today on Please Explain, Bianca Hall is joined by senior economics correspondent Shane Wright.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

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