Canberra, September 02 (QNA) - Australia's economy grew 0.4% in the second quarter of 2026, slightly exceeding economists' forecasts and raising the prospect of an interest rate hike by the Reserve Bank of Australia (RBA) as early as this month.
According to the latest national accounts data released by the Australian Bureau of Statistics (ABS), the economy expanded 2.1% in the year to June, on a seasonally adjusted basis.
Both figures were slightly above economists' expectations of quarterly growth of 0.3% and annual growth of 1.8%.
Australian Treasurer Jim Chalmers said the figures provided further evidence of the resilience of the Australian economy despite challenging global conditions.
In a statement issued following the release of the data, Chalmers said annual economic growth was as strong as or stronger than that of every major advanced economy, matching the growth rate in the United States and significantly outpacing other major advanced economies. (QNA)