The Australian economy recorded marginal growth in the first quarter of 2022, even though the country suffered from the impacts of the flood crisis and the COVID-19 Omicron variant.
According to the March quarter national accounts, the economy expanded by 0.8 percent, a far cry from the revised 3.6 percent growth in the December quarter. As a result, the annual growth rate was brought down to 3.3 percent from 4.4 percent previously.
