Industry Newsmonetary policyeconomic growthbusiness investmentdata centres
Australia Records Softer GDP Growth In September
7.0
Australia's economy grew 0.4% in the September quarter, slowing from 0.6% in June, the Australian Bureau of Statistics reported on Wednesday. Annual GDP rose 2.1%, a two-year high slightly above the Reserve Bank's 2.0% trend, with private investment — notably A$2.8 billion in IT machinery and data-centre projects — driving growth and supporting a likely RBA rate hold on Dec 8–9.
Key Points
- 1Reports GDP grew 0.4% in the September quarter, down from 0.6% in June.
- 2Shows annual GDP at 2.1%, above the RBA 2.0% trend, signaling steadier activity.
- 3Indicates RBA likely holds rates Dec 8–9, while markets price an 85% chance of 2025 hike.
Scoring Rationale
Official ABS data provides clear signals for monetary policy and investment trends, but offers limited novelty beyond anticipated dynamics.
Sources
Public references used for this report.
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