Data centre spending spree and housing boom drive economic growth

04 Dec

Australian's economy grew by 0.4 per cent in the September quarter, following growth of 0.7 per cent in the June quarter.It means the economy is now growing at an annual rate of 2.1 per cent, up from 2 per cent in the middle of the year.Growth in the September quarter was driven by private investment and household consumption, while changes in inventories detracted from growth as inventories were run down to support exports.Grace Kim, ABS head of national accounts, said GDP per person was flat for the quarter as economic growth matched population growth.

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