From Yahoo Finance: 2025-06-03 21:49:00

Australia’s economy barely grew in the first quarter, with GDP rising only 0.2%. This was below market forecasts of 0.4% and annual growth flatlined at 1.3%. The Reserve Bank of Australia has already cut interest rates twice since February to 3.85% and is open to further cuts. Government spending was flat, extreme weather events impacted sectors like mining and tourism, and GDP per capita fell 0.2%. Treasurer Jim Chalmers welcomed the growth amid global uncertainty. Household savings ratio rose to 5.2% and inflation moderated, with productivity showing slow improvement. Analysts expect a rate cut in July.



Read more at Yahoo Finance: Australia’s muted Q1 economic growth signals need for more stimulus