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AAP
AAP
Business
Jacob Shteyman

INSANE: Soft economic growth expected in key data drop | Vintage Vibes

Economic Growth Australia Belinda Allen Economy Middle East
Home buyers face the prospect of another interest rate hike after the latest GDP figures. (Lukas Coch/AAP PHOTOS)

Another Reserve Bank rate rise is all but assured after Australia's economy grew by a surprisingly strong 2.1 per cent in the past financial year.

Despite the impact of higher interest rates and the Middle East conflict, gross domestic product expanded by 0.4 per cent in the June quarter - up from 0.3 per cent in March - the Australian Bureau of Statistics reported on Wednesday.

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