Financial News: Australia GDP Expands 0.2% In Q2

Australia GDP Expands 0.2% In Q2

09/03/2024 - 21:36:00 (RTTNews)

(RTTNews) - Australia's gross domestic product expanded a seasonally adjusted 0.2 percent on quarter in the second quarter of 2024, the Australian Bureau of Statistics said on Wednesday - in line with expectations and accelerating from 0.1 percent in the previous quarter.

On a yearly basis, GDP added 1.0 percent - again matching forecasts and slowing from 1.1 percent in the three months prior.

Capital spending was down 0.1 percent on quarter after shedding 0.9 percent in Q1, while the chain price index lost 0.9 percent after rising 0.8 percent in the first quarter.

Final consumption rose 0.3 percent, slowing from 0.6 percent in the previous quarter.

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