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Australian economy grows 0.4% in Q2
The Australian economy grew by 0.4% during the second quarter of the year, surpassing analysts' expectations of 0.3%, which boosts the likelihood of interest rate hikes early this month. The annual growth rate also reached 2.1% for the period ending in June, exceeding the forecast of 1.8%, and ranking among the highest growth rates among developed countries, comparable to the United States and significantly ahead of other advanced economies. This robust performance is taken as evidence of the resilience of the Australian economy amid challenging global conditions.
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