Economic hit from lockdowns smaller than feared, rapid rebound already underway

Australia's economy shrank 1.9 per cent in the September quarter, but was still 3.9 per cent bigger than it was at the same point in 2020, after the initial COVID-19 lockdowns. 

Most economists had been expecting GDP to contract by more than 3 percent. 

ABC's Peter Ryan says the figures point to an economic rebound already underway.