Australia’s economy hit a speed bump in early 2025, with gross domestic product expanding just 0.2% in the first quarter.
The Australian Bureau of Statistics released national accounts on Wednesday showing GDP rose 0.2% in the three months to the end of March, compared with 0.6% growth in the previous quarter.
This result also came in below economists’ forecasts of 0.3%, highlighting a softer start to the year for businesses and consumers.
On an annual basis, GDP climbed 1.3% in the year to March, underscoring underlying resilience amid shifting market conditions.
All eyes will now turn to the next ABS report to see if momentum picks up or the slowdown continues through Q2 2025.
Reference(s):
cgtn.com
