Australia’s Q2 GDP Grows 0.4%, Beating Expectations
Australia's economy expanded by 0.4% in the second quarter of 2024, outpacing forecasts amid government spending and net exports.
2 sources
Australia's economy expanded by 0.4% in the second quarter of 2024, exceeding market expectations of 0.3%, according to data released by the Australian Bureau of Statistics on September 4, 2024.[2]
The growth was driven primarily by government spending and net exports, reflecting resilience across the broader economy despite persistent cost-of-living pressures and high interest rates.[2]
The stronger-than-expected gross domestic product print provides the Reserve Bank of Australia room to proceed with its policy tightening as the central bank continues efforts to curb inflation.[1]
