“The strength in activity should see further gains in employment and with high rates of capacity utilization and elevated confidence, we hope that business investment continues to lift,” said Alan Oster, chief economist at NAB. “This could see further activity and productivity gains as the private sector takes over once again as the government gradually withdraws stimulus.” Australia’s rapid rebound has been underpinned by its ability to limit Covid-19 outbreaks, boosting consumer and business sentiment. A massive fiscal-monetary injection strengthened the financial position of households and firms during the lockdown, and consumers are spending and companies hiring. Australia’s economy has now recouped all jobs lost during the pandemic and is larger than it was before Covid hit. “Overall, this was another very strong read for the business sector -- and forward indicators point to ongoing strength in the near-term,” Oster said. “The economy now appears to be entering a new period of growth after a very rapid rebound.” ©2021 Bloomberg L.P.