SYDNEY (AFP) Australia has exited its first recession in almost 30 years, after official figures released Wednesday showed the economy grew 3.3 percent in July-September compared with the previous quarter. With local transmission of Covid-19 largely under control, official data showed businesses have begun to rebound and consumer spending has
Tag: recession
Japan exits recession as GDP grows 5.0% in Q3
TOKYO (AFP) Photo: Collected/Business Today Japan’s economy exited recession in the third quarter, growing a better-than-expected 5.0 percent, government data showed Monday, following a record contraction. A rise in domestic demand as well as exports helped drive the quarter-on-quarter growth, after the coronavirus pandemic and a consumption tax hike slammed the