Australia's Economy Gains Momentum with 0.4% Q2 Growth

Australia's economic growth picked up pace in the second quarter of 2026, exceeding economists' expectations. According to official figures released on Tuesday by the Australian Bureau of Statistics (ABS), gross domestic product (GDP) rose by 0.4 percent in the three months to the end of June.

This is a notable improvement from the 0.3 percent growth recorded in the preceding March quarter, and it beats the Reserve Bank of Australia's (RBA) projection of 1.9 percent annual GDP growth made in August.

The Commonwealth Bank of Australia (CBA), the nation's largest consumer bank, had previously downgraded its growth estimate to 0.1 percent for the quarter and 1.6 percent annually.

Treasurer Jim Chalmers said that the figures show the economy is resilient and robust, citing strength in private demand and increased imports as key drivers of growth.