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The New Daily

Matthew Elmas

‘Resilient’: Consumers help economy weather Omicron, floods as household outlook sours

Economy Omicron Sean Langcake EY Cherelle Murphy Australia

A return to restaurants and tourism has driven a "strong" first quarter for Australia's economy. Photo: AAP

Australian households spent more money eating out and travelling the country over the March quarter, helping the national economy weather the Omicron outbreak and natural disasters.

But prices for everything from food to petrol and electricity are rising fast, threatening to bite into savings accounts later this year after businesses refilled their stock levels with costlier imports.

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