The Gross Domestic Product (GDP) in Australia expanded 1.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Australia averaged 3.37 percent from 1960 until 2023, reaching an all time high of 10.60 percent in the second quarter of 2021 and a record low of -6.10 percent in the second quarter of 2020. source: Australian Bureau of Statistics
GDP Annual Growth Rate in Australia is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.00 percent in 2025 and 2.20 percent in 2026, according to our econometric models.