Reported about 17 hours ago
Australia's economy experienced its fastest growth in nearly two years during the second quarter, driven by increased consumer spending following recent interest rate cuts. The GDP rose by 0.6%, exceeding expectations, while annual growth accelerated to 1.8%. Despite positive signs in consumer activity, challenges remain due to weak business investment and global economic uncertainties, prompting the Reserve Bank of Australia to remain cautious about future policy adjustments.
Source: YAHOO