Australia's Economy Surges, Interest Rates Unlikely to Drop
Update: 2025-12-02
Description
Australias economy is experiencing its fastest growth in over two years, with GDP projected to accelerate from 1.8% to 2.3% in the September quarter. This surge is primarily due to a significant increase in public investment, which rose by 3% in the quarter. Major banks have revised their growth predictions, with Commonwealth Bank anticipating 2.2% growth and Westpac forecasting 2.3%. ANZ predicts a 2.1% rise and suggests further interest rate cuts are unlikely. The tight labor market and weak productivity are complicating matters for the central bank, but the OECD projects Australias GDP to grow at 2.3% in 2026 and 2027, with the economy becoming more private sector-driven.
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