Australia's economic growth slows to 0.2 per cent in first quarter, missing expectations
Australia's economy grew by 0.2 per cent in the March quarter, and 1.3 per cent through the year, according to the Australian Bureau of Statistics (ABS).
It means economic growth slowed in the first three months of the year, from 0.6 per cent at the end of 2024, and missed expectations.
GDP per capita fell 0.2 per cent this quarter, following a 0.1 per cent rise in the December 2024 quarter, the ABS said.
In its latest economic statement, the Reserve Bank had forecast annual GDP growth of 1.8 per cent in the June quarter, picking up to 2.1 per cent by the end of the year — a downgrade to its forecasts prior to the Trump administration's tariff announcement.
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