Australia's economy grew 0.4 percent as household spending stayed subdued
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Australia's economy grew 0.4 percent in the June quarter and 2.1 percent from a year earlier, the Australian Bureau of Statistics said Wednesday.
Household consumption rose 0.4 percent. The agency described spending as subdued and said higher fuel costs and disrupted travel weighed on households during the Middle East conflict.
Investment moved the other way. Private business investment fell 0.5 percent after spending on data centre equipment had jumped in the March quarter, although it remained 10.4 percent above its level a year earlier.
Trade added 0.1 percentage points to quarterly growth. Exports rose 0.8 percent, led by coal after earlier weather disruptions, while imports rose 0.5 percent overall.
The full financial year was stronger. GDP rose 2.4 percent across 2025 to 2026, and GDP per person rose 0.8 percent. The household saving ratio edged up to 6.5 percent from 6.4 percent.
