The Australian economy rose by 0.9 percent in the June quarter. However, the growth was foreshadowed by challenging economic conditions.
National accounts data from the Australian Bureau of Statistics showed that increased household spending and exports continued to drive economic growth for the third consecutive quarter, taking the GDP growth rate to 3.9 percent for the entire 2021-2022 financial year.
However, Treasurer Jim Chalmers said the data did not give a complete picture of the escalating challenges facing the economy.
“Our economy is growing relatively solidly, but some of the challenges in the economy are growing solidly as well,” he told the parliament….