Annual Australian GDP Growth Fastest in 2 Years, Despite Missing Quarterly Forecast

Is Australia's economy thriving with strong investment growth, or failing with stagnant living standards?

Published 1 day ago

Annual Australian GDP Growth Fastest in 2 Years, Despite Missing Quarterly Forecast

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Above: The Sydney, Australia, city center and central business district skyline on Feb. 6, 2025. Image credit: Martin Berry/Universal Images Group/Getty Images

The Spin

Australian Labor Party narrative

Under the prudent economic management of the Albanese government, the economy delivered its fastest annual rate of growth since 2023 at 2.1%, accompanied by the most significant surge in private investment in nearly five years. The outcome of the National Accounts is a promising result that shows that the best is yet to come under this Labor government.

Jim Chalmers on X

Liberal/National Coalition narrative

The ABS' latest statistics on the Australian economy are not all that the Labor government makes them out to be. Once again, the National Accounts showed no growth in GDP per capita, which has been either flat or in decline for the last 13 quarters. This is a damning indictment of the Labor government, which has overseen a decline in living standards.

Dave Sharma on X

Metaculus Prediction

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