Australia’s economic momentum fades in March quarter

This profile suggests a declining annual rate of growth through 2026 such that by the end of the year the economy would have only grown 1.3 percent, writes, KPMG Chief Economist Brendan Rynne.

The latest gross domestic product (GDP) data reveal an economy that has virtually stood still during the first quarter of this year, recording real growth of only 0.3 percent over the quarter, well down from the 0.9 percent quarterly growth achieved in the final three months of 2025. On an annualised basis Australia's GDP grew by 2.5 percent over the 12 months to the end of March 2026, while still below the long run average of annual growth rate, it is clearly above the level that can be sus...

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Authors: Brendan Rynne

Published Date: 04 June 2026