- Australia's economy grew 2.1% year over year in Q2, above the 1.8% consensus forecast and down from 2.5% in Q1.
- GDP rose 0.4% quarter over quarter, ahead of the 0.3% estimate, with private demand and mining exports driving growth.
- The stronger growth and July inflation at 3.5% give the RBA room to consider additional tightening, although household spending remained subdued.
Quotes
“households continued to behave cautiously”