GDP expanded by 1% compared with the June quarter of 2023, the Australian Bureau of Statistics said, slightly above forecastsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia’s economy fared better than expected in the June quarter as government spending fuelled growth. On a per capita basis, though, activity shrank for a record sixth quarter in a row.Gross domestic product grew 1.0% compared with the June quarter of 2023, the Australian Bureau of Statistics said on Wednesday. That rate compared with 0.9% predicted by economists and 1.1% previously report by the ABS for the March quarter. Continue reading…
Source link : https://www.theguardian.com/business/article/2024/sep/04/gdp-australia-economy-growth-figures-june-quarter-interest-rates
Author : Peter Hannam Economics correspondent
Publish date : 2024-09-04 01:40:36
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Australia’s economy fares better than expected as government spending fuels growth
