Australian Gross Domestic Product rises 0.2% QoQ in Q2 vs. 0.3% expected

Australia’s Gross Domestic Product (GDP) grew 0.2% QoQ in the second quarter (Q2) of 2024 compared with the 0.1% growth in the first quarter, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.3%.

The annual first-quarter GDP expanded by 1.0%, compared with the 1.1% growth in Q1 while in line with the consensus of a 1.0% increase.