Australia's Economy Booms: Strongest Growth in 2 Years
Update: 2025-12-03
Description
Australias economy is booming, with a 2.1% GDP growth over the past year, driven by consumer spending and business investment. Despite a slight dip in the latest quarter, domestic demand surged by 1.2%. The Reserve Bank faces a challenge with rising inflation and may consider rate hikes. The economys growth potential is limited by low productivity, but significant investment in data centers and housing is a positive sign. The OECD predicts Australias GDP to grow by 2.3% in 2026 and 2027.
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