Australia's economy expanded more than expected in the fourth quarter ahead of the spread of coronavirus, data from the Australian Bureau of Statistics revealed Wednesday.
Gross domestic product climbed 0.5 percent sequentially after expanding by revised 0.6 percent in the third quarter. Economists had forecast the growth to ease to 0.4 percent.
On a yearly basis, GDP advanced 2.2 percent, faster than the expected growth of 2 percent.
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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.