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Australian Economy: GDP Growth Rate

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Questions and Answers

What was the percentage increase in the three months to December?

0.2 per cent

What is the normal GDP growth rate in the past few decades?

3 per cent

What is the annual growth rate of the economy, according to the latest National Accounts?

1.5 per cent

What is the expected impact of the weak GDP growth figures on interest rates?

Interest rates will be coming down earlier than expected. Signup and view all the answers

When are economists expecting the first interest rate cut to take place?

September Signup and view all the answers

What does Cassandra Goldie, the CEO of the Australian Council of Social Service, believe is the impact of the Reserve Bank of Australia's interest rate hikes?

Excessive interest rate rises last year have brought financial distress and job losses. Signup and view all the answers

What is the current cash rate, according to analysts, and when is the next interest rate announcement?

The cash rate is 4.35% and the next announcement will be on 19 March. Signup and view all the answers

What does the latest GDP growth rate indicate about the state of the economy, according to Treasurer Jim Chalmers?

Slow growth is still significant growth given the challenging global conditions. Signup and view all the answers

What does the ABS data show about Australians' spending habits?

Australians are spending less per person. Signup and view all the answers

What is Devika Shivadekar's prediction for the economy in the months ahead?

Per capita economic performance remains disappointing and will continue to be in the months ahead. Signup and view all the answers