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 cut back spending to meet rising debt costs, countering extra spending from governments and businesses.
The country’s gross domestic product rose 0.1% was stagnant 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 showAustralia’s economy all but stalled in the March quarter as households cut back spending to meet rising debt costs, countering extra spending from governments and businesses.The country’s gross domestic product rose 0.1% was stagnant 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…