Episode Details
Back to EpisodesLatest GDP figures show economy's slowdown has begun
Published 2 months, 3 weeks ago
Description
Australia's economy grew at an annual rate of 2.5 per cent in the March quarter, the same as in the previous quarter.
But on a quarterly basis, the economy grew by just 0.3 per cent, which was much weaker than the 0.9 per cent recorded in the previous quarter.
The rapid slowdown in the quarterly rate of growth coincided with the Reserve Bank's decision to lift interest rates in February and March.