US EditionAustralia's Economic Growth Beats Expectations
Household consumption rose 0.9% and government spending increased 1%, driving Australia's 1.8% annual GDP growth, the fastest in nearly two years, per ABS data.
- Australia's economy expanded by 0.6% during the April to June period of 2025, achieving its fastest annual growth rate since September 2023.
- The growth followed a rebound from a weak first quarter impacted by weather events and benefitted from increased domestic spending.
- Household consumption surged by 0.9 per cent and government spending rose by 1 per cent, while public investment declined and business investment remained weak.
- Treasurer Jim Chalmers said this is a "welcome and substantial pick-up in growth" reflecting a private sector recovery "gathering pace" despite global uncertainty.
- The data suggests Australia's economy is gaining momentum, though consumer and business confidence remain tentative while the labour market gradually eases.
14 Articles
14 Articles
Australia’s economy shows best result in two years as consumer spending picks up
Diego Fedele/Getty ImagesThe Australian economy picked up strength in the June quarter as consumers opened their wallets, boosted by interest rate cuts earlier in the year. New figures from the Australian Bureau of Statistics showed gross domestic product (GDP) grew by 0.6% in the June quarter and 1.8% over the year — the strongest outcome in two years and above market and economists’ expectations. Treasurer Jim Chalmers said the report showed “…
'Welcome' pick-up in Australian economy wrongfoots RBA
Australia’s private sector is expected to be the primary driver of growth, the treasurer says. (Dean Lewins/AAP PHOTOS) By Jacob Shteyman in Canberra Australia’s economic growth rate has accelerated to 1.8 per cent, the fastest rate in almost two years, amid a boost in household consumption. The annual rise in gross domestic product, included in the Australian Bureau of Statistics’ quarterly national accounts release on Wednesday, was above the…
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