GDP growth falls to just 0.1% as household cutbacks put handbrake on Australia’s economy
Annual economic growth is down to 1.1%, lower than economists predicted, ABS GDP figures showAustralia’s economy all but stalled in the March quarter as households rising debt costs curbed spending, countering extra outlays from governments and businesses.The country’s gross domestic product rose 0.1% in the first three months of 2024, the Australian Bureau of Statistics said on Wednesday. On an annual basis, the economy grew 1.1%. Continue reading...
Annual economic growth is down to 1.1%, lower than economists predicted, ABS GDP figures show
Australia’s economy all but stalled in the March quarter as households rising debt costs curbed spending, countering extra outlays from governments and businesses.
The country’s gross domestic product rose 0.1% in the first three months of 2024, the Australian Bureau of Statistics said on Wednesday. On an annual basis, the economy grew 1.1%. Continue reading...
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