Australia’s annual growth slowed in June quarter with GDP up 2.1%

Rise compares with a revised 2.4% economic growth in the March quarter, Australian Bureau of Statistics reveals

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Australia's economic growth slowed at an annual pace in the June quarter as headwinds from interest rates and a faltering post-Covid recovery in China took their toll. In per-capita terms, growth was negative for a third quarter in a row.

The country's gross domestic product rose 2.1% in April-June compared to the same period 12 months earlier. That contrasted with a revised 2.4% annual rate in the March quarter, the Australian Bureau of Statistics reported on Wednesday.