Economy grew by 0.9% in June quarter

The port of Melbourne

Net exports are expected to contribute 0.1 percentage points to growth for the June quarter. (AAP) Source: AAP

The Australian economy expanded by 0.9 per cent in the three months to June, slightly beating economists' expectations.


The Australian economy grew by 0.9 per cent in the June quarter, official figures have revealed.

The economy also expanded by 3.4 per cent over the 12 months to June, the national accounts released on Wednesday show.

The growth is ahead of market consensus forecasts, which had predicted quarterly growth of 0.7 per cent and an annual improvement of 2.8 per cent.

The Australian Bureau of Statistics figures show domestic demand rose 0.6 per cent in the three months to June.

That reflected strong household expenditure, which grew by 0.7 per cent in the quarter, with spending up on both discretionary and non-discretionary goods and services.


Share
Follow SBS Korean

Download our apps
SBS Audio
SBS On Demand

Listen to our podcasts
Independent news and stories connecting you to life in Australia and Korean-speaking Australians.
Ease into the English language and Australian culture. We make learning English convenient, fun and practical.
Get the latest with our exclusive in-language podcasts on your favourite podcast apps.

Watch on SBS
Korean News

Korean News

Watch it onDemand