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Australian Economy Expands Amidst Global Market Pressures
Record sales of electric vehicles and hybrids drove about half of the quarter’s growth as households cut back on other spending, the ABS said.
Summary by sharecafe.com.au
5 Articles
5 Articles
Sydney Morning Herald+3 Reposted by 3 other sources
Australians’ splurge on EVs keeps the economy ticking
The Australian economy grew by 0.4 per cent through the June quarter as consumers spent more on electric vehicles as they deal with the fallout from the war against Iran.
·North Sydney, Australia
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Australian Economy Expands Amidst Global Market Pressures
Australia’s economy outperformed expectations in the second quarter, with gross domestic product expanding by 0.4 per cent, surpassing forecasts of 0.3 per cent for the June quarter. Despite this positive domestic indicator, shares experienced a 1 per cent drop in trading, influenced by a surge in oil prices and broader market sentiment. Concurrently, Australian 10-year
Coverage Details
Total News Sources5
Leaning Left3Leaning Right0Center1Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
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