Australia's economy grew by 0.6% in the June quarter

ABC NEWS (Australia)

The Australian economy grew by zero-point-six percent in the June quarter, slightly ahead of economist expectations. Treasurer Jim Chalmers says the economy is gaining momentum in a globally challenging economic environment.

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00:00The economy grew 0.6% in the June quarter to be 1.8% higher through the year.

00:10This result was better than most economists expected.

00:13It's a very welcome and substantial pick up in growth in our economy.

00:20The particularly pleasing part of this is that our economy is gathering momentum

00:27in the face of some pretty substantial global economic headwinds.

00:31What we saw in the June quarter was the equal fastest quarterly growth rate in almost three years

00:37and the fastest annual growth rate in almost two years.

00:41And it's especially encouraging when you remember that in this June quarter

00:46a couple of big comparable economies like Germany and Canada went backwards.

00:52Whereas in Australia growth is gathering pace.

00:55That's a very welcome and very encouraging development.

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