Australia's Q3 GDP Surges to Two-Year High on Investment and Consumption
TL;DR Summary
Australia's third-quarter GDP grew 2.1% year-on-year, its fastest in about two years, driven by strong domestic investment and consumption, despite missing analyst expectations slightly. However, net trade was a drag, and inflation remains above target, prompting the Reserve Bank of Australia to consider maintaining or increasing interest rates to curb inflationary pressures.
- Australia's third-quarter GDP expands at fastest pace in about 2 years on investment, consumption boost CNBC
- Australia’s GDP Data Conceals Blistering Demand Growth The Wall Street Journal
- Australia Economic Growth Misses Forecasts, RBA Bets Whipsaw Yahoo Finance
- Australia's annual growth hits two-year high in Q3 as demand broadens Reuters
- Australian economy crawls back into growth mode thanks to data centre boom and household spending uptick The Guardian
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