Australia Q4 GDP rises 0.6% on upticks in public, private spending

Government expenditures still strong, but moderating as exports grow

People wait at a bus stop in Sydney. Spending at home and export growth drove Australia's recent economic performance. © Reuters

SHAUN TURTON

March 5, 2025 11:14 JST

SYDNEY -- Australia's gross domestic product rose 0.6% in the fourth quarter of 2024, lifted by increases in both public investment and private spending, data released Wednesday show. The country logged its first rise in per capita GDP in almost two years.

The reading follows quarterly rises of 0.3% for the third quarter of 2024 and 0.2% for both the second and first quarters. GDP growth totaled 1.3% for all of last year.