The Australian economy expanded at a faster pace in the second quarter after severe weather events damped activity in the preceding quarter, data from the Australian Bureau of Statistics revealed on Wednesday.
Gross domestic product growth doubled to 0.6 percent in the June quarter from 0.3 percent in the March period. The rate also exceeded economists' forecast of 0.5 percent.
On a yearly basis, GDP growth improved to 1.8 percent, the strongest since September 2023, from 1.4 percent in the prior quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.