Australia’s economic growth remains equal to 1.3% in the first quarter

Australia’s economy grew less than expected in the first quarter of this year, as growth was delayed amid the abandoned world trade tension.

The country’s economy increased by 1.3% compared to last year in the first quarter, which is below 1.5% of the economists surveyed by Reuters. That was unchanged from 1.3% compared to last year In the previous quarter.

GDP’s figure comes as Australia’s Bank in two years reduced bets to the lowest level At its last meeting in May, when inflation figures concern that retreated by offering RBA to facilitate the monetary policy.

Central Bank said In his statement after the meeting The fact that he expects that the growth of internal GDP will take away in 2025, due to the restoration of consumption and the long force in the demand for public.

“However, it is expected that the pickup will be more gradual than predicted because of the weak world demand, global and domestic uncertainty and the weaker impulse in consumption,”-added in it.

In the first quarter of 2025, inflation in the country decreased to a four -year minimum of 2.4% within the RBA target range from 2% to 3%.

Said RBA in This is my meeting The fact that its basic assumptions for the country’s economy goes forward reflects “somewhat weaker” demand for Australian exports.

It states that “some weight was given the opportunity that the uncertainty policy could mitigate domestic investments and household costs; and the nearest impulse in consumption was a little weaker.”

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