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Textiles

Prime Content | 
Australia's GDP increases 0.4% in June quarter of 2023

06 Sep '23
2 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • Australia's GDP grew by 0.4 per cent in Q2 2023, driven by a 2.4 per cent increase in total gross fixed capital formation and easing supply chain issues.
  • Although household spending remained subdued in the June quarter, net trade in goods added 0.5 percentage points to GDP growth.
  • The country's nominal GDP fell by 1.2 per cent for the quarter.
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