Australia’s economy bounced back in the June quarter as it shrugged off the impact of weather events in the first few months of 2025.
Australian Bureau of Statistics (ABS) Head of National Accounts Tom Lay said Australian gross domestic product (GDP) rose 0.6 per cent in the June quarter and 1.8 percent compared to a year ago.
Mr Lay said this data release included the first estimates of the 2024-25 financial year, with GDP rising by 1.3 percent for the 2024-25 financial year.
He said domestic final demand was the main driver of growth led by household and government spending, with public investment the largest detractor from growth.
“Economic growth rebounded in the June quarter following subdued growth in the March quarter, which was heavily impacted by weather events.”
Mr Lay said GDP per capita increased 0.2 percent this quarter, following a decrease in the March quarter.
He said household spending rose 0.9 percent in the June quarter after a 0.4 percent rise in the March quarter.
“End of financial year sales and new product releases contributed to rises in discretionary spending on goods including furnishings and household equipment, motor vehicles and recreation and culture goods.
“Households took advantage of the proximity of Easter to ANZAC day to extend their holiday break, resulting in rises in discretionary services such as hotels, cafes and restaurants and recreation and culture services.”
