Australia GDP Data Release 1Q22

Economic growth slowed in 1Q22 as inflation surges

June 03, 2022
  • Leigh Warner
  • Bhavin Patel
  • Aiden Mayne

Australia’s real GDP increased by 0.8% in 1Q22. Growth slowed significantly from the previous quarter (3.6%), largely due to the disruption caused by the Omicron variant of COVID-19 and floods across Queensland and New South Wales. Although economy conditions remain volatile, on an annualised basis economic growth in Australia is strong at 3.3%.

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