Economy records slowest growth in a decade

Australia has recorded its lowest level of annual economic growth in a decade. Despite the low figures, the federal government is insisting the economy is strong.

Treasurer Josh Frydenberg Source: AAP

New data from the Australian Bureau of Statistics show the economy grew by 0.5 per cent in the June quarter, in seasonally adjusted terms.

GDP was up by just 1.4 per cent over the 12 months to June - down from 1.8 per cent in March.

That makes it the slowest annual growth recorded since 2009, when the world economy was in the grips of the global financial crisis.

But Treasurer Josh Frydenberg instead points to another aspect of the figures.