Sydney, Australia
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Australia’s economy grew by 1.3% The fourth quarter year has accelerated for the first time since September 2023.
GDP growth exceeded 1.2% compared to economists who voted by Reuters.
The country’s statistics office said the growth was “moderate” but based on broad, adding that “both public and private spending contributed to growth, which is an increase in exports of goods and services.”
On a quarter-quarter basis, GDP rose 0.6%, surpassing Reuters’ vote expectations for a 0.5% increase and marks the fastest growth since the third quarter of 2022.
The data is after the Australian Central Bank Cut benchmark interest rates at its monetary policy meeting Last month, amid a slow economy and ease of inflation, marking its first cut in four years.
Australia S&P/ASX 200 Stock index fell 0.88% after the data was released, while Australian stock trade with Greenback weakened by 0.6256.
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