Australia Outpaces G7 on Growth, Even as Q1 Stumbles

Australia's economy expanded just 0.3% in the March quarter, dragged by imports of data centre equipment and fuel costs. Yet the IMF projects Australia will grow faster than any G7 nation in 2026, signalling relative resilience. The contrast reflects commodity strengths and policy support—new tax cuts took effect June 1—offsetting near-term external shocks as global conflicts disrupt supply chains.