Australia’s economy picked up the pace in the final three months of the year, boosted by a revival in household spending, though the outlook remains clouded by persistent inflation at home and mounting trade tensions abroad.

Australia’s economy grew by 0.6% in the fourth quarter, up from 0.3% in the previous quarter and surpassing market expectations of 0.5%, marking the 13th quarter of expansion and the fastest pace since Q4 2022,

Australias economy expanded more than anticipated in the fourth quarter, driven by strong public and private spending, alongside a rebound in export demand. GDP rose 0.6% quarter-on-quarter, surpassing expectations of 0.

Australia's economy expanded at the fastest pace in two years in the December quarter as lavish tax cuts helped spur consumer spending after a long fallow period, though annual growth was still pedestrian compared with the historic trend.

Australia's economy grew by 0.6 per cent in the December quarter, and 1.3 per cent through the year, according to the Australian Bureau of Statistics (ABS). It means the economy's rate of growth picked up noticeably at the end of 2024.

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Australia’s economy gained momentum in the final quarter of 2024, providing support for the Reserve Bank of Australia’s (RBA) cautious stance on further rate cuts. The latest data signals resilience in growth,

Stronger goods and services exports have pushed the Australian economy out of a hole, with GDP rising 0.6 per cent in the December quarter, above RBA forecasts.