Extreme Weather Events Have Slowed Economic Growth, Adding to the Case for Another Rate Cut

Australia's economic growth sluggish as natural disasters take a toll and tariffs loom

Australia's economic recovery continues to stall, with the latest data showing GDP growth has slowed to 0.2 per cent in the first three months of the year. That's well below the expectations of economists. The Treasurer pointed to natural disasters and global uncertainty as factors, as pressure mounts on Australia to secure US tariff exemptions.

Economy stalls as private sector fails to pick up slack

More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to...

Economy will be stuck in the slow lane unless these two things change

There are two worrying trends in the national accounts released on Wednesday.

Extreme weather events have slowed economic growth, adding to the case for another rate cut

Australia’s economy slowed sharply in the March quarter, growing by just 0.2% as government spending slowed and extreme weather events dampened demand. That followed an increase of 0.6% in the previous quarter. The national accounts report from the Australian Bureau of Statistics (ABS) showed annual growth steady at 1.3%, below market forecasts for an improvement to 1.5%. The result is also weaker than the Reserve Bank of Australia’s forecasts. …

‘Soft growth’: Australian economy slower than expected

Australia’s economy is stuck in the slow lane as families and businesses remain reluctant to splash cash and a binge of government spending unwinds.

Australian economy slows as government spending eases

The national economy grew by a less-than-expected 0.2% in the first three months of the year, due to cyclone Alfred and lower government spending.