The Australian economy expanded 1.4 percent year-on-year in the second quarter of 2019, slowing from a downwardly revised 1.7 percent in the previous period and matching market expectations. It was the weakest growth rate since the global financial crisis in 2009. GDP Annual Growth Rate in Australia averaged 3.44 percent from 1960 until 2019, reaching an all time high of 9 percent in the first quarter of 1967 and a record low of -3.40 percent in the second quarter of 1983.
GDP Annual Growth Rate in Australia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Australia to stand at 2.30 in 12 months time. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.