Q1 GDP rises 0.3% amid strong domestic demand
Australia’s economy expanded 0.3% in Q1 2026, below forecasts, as a surge in data centre and fuel imports dragged on growth.
The country’s annual growth held at 2.5%, despite strong domestic demand.
Private business investment jumped 6.0% in the quarter, driven by data centre-related machinery and equipment.
The Australian dollar was little changed following the release, with swap markets pricing a 7% chance of a fourth RBA hike next month