Australia's Economic Growth Slows to 0.3% in Q1 2026

Kathmandu. Australian economic growth slowed in the first quarter of 2026, according to government data. The Australian Bureau of Statistics, in a report released on Wednesday, stated that the country's gross domestic product grew by 0.3 percent in the three months to March. This is a significant decrease compared to the 0.9 percent growth rate in the last quarter of 2025.

On an annual basis, Australia's economy expanded by 2.5 percent in the 12 months to March, which is the same as the growth rate in the same period last year. According to the data, household consumption expenditure increased by 0.5 percent during that period, while government consumption expenditure decreased by 0.2 percent. This decline in government spending is considered the lowest quarterly level since September 2022.