Australia's Q1 2026 GDP grew 2.5% YoY, below the 2.7% forecast and down from 2.6% prior quarter.
Quarter‑on‑quarter growth slowed to 0.3%, missing consensus of 0.5%, as weak household spending and export decline weighed.
Exports fell 1.1% due to softer commodity demand and mining disruptions from cyclone Narelle, while fuel prices rose on Middle‑East tensions.
The Reserve Bank of Australia continued aggressive rate hikes to curb inflation, adding pressure on private spending amid rising oil prices.