Australia's real, seasonally adjusted Gross Domestic Product increased by 4.1 per cent through the year to June 2004, its strongest annual growth since the year to September 2002. GDP rose by 0.6 per cent on the March quarter, with all major expenditure components of domestic demand – household consumption, private dwelling and business investment, and government spending – increasing during the quarter. Total domestic demand rose by 1.6 per cent in the quarter and by 6.2 per cent through the year to June, with household consumption and business investment contributing most to growth. However, net trade detracted from growth over both the quarter and the year to June.
© Business News 2018. You may share content using the tools provided but do not copy and redistribute.