Australia's Q1 Economic Growth Misses Estimates Due to Weather Disruptions and Weak Demand
Australia's GDP growth for the first quarter of this year came in at 2.5% annually, below economists' expectations of 2.6%. On a quarterly basis, it grew by only 0.3%, missing forecasts of 0.5%. The slowdown was attributed to weak household spending and government consumption as well as weather-related disruptions.
Tickers: $BAC
Topics: Australia economic performance GDP growth inflation interest rates