2024-06-05 01:58:07 ET
- Australia’s economy grew 0.1% in the first quarter, slowing from a 0.3% rise in the preceding quarter and missing market forecasts of 0.2%.
- This was the 10th period of quarterly growth but the softest pace in 6 quarters, amid subdued domestic demand, a further fall in fixed investment, and a drag from net trade.
- Yearly, the GDP grew by 1.1%, the least since Q4 of 2020.
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The S&P/ASX 200 Index rose 0.2% to above 7,750 on Wednesday, recouping some losses from the previous session.
ETFs: ( EWA ), ( FXA ), ( FLAU ).
More on Australia
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Australia's monthly inflation rate accelerates to 3.6% Y/Y in April; highest in five months
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Australia's manufacturing PMI steady in May; services PMI sustains four months of expansion
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RBA May meeting minutes show to consider another interest rate hike
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Australia's Q1 annual inflation slows less than expected; monthly CPI above forecasts
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Australia's Monthly CPI inflation softer-than-expected to 3.4% in the year to February 2024
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Australia reports Q1 GDP growth of 0.1% below estimates