FINWIRES · TerminalLIVE
FINWIRES

Australia's GDP Growth Expected to Soften to 1.1% Year-over-Year in 2026, ANZ Says

By

Australia's mining states, New South Wales, Western Australia, and Queensland, drove the country's economic momentum in the March quarter, and the country's gross domestic product (GDP) growth is expected to soften to 1.1% year-over-year in 2026, from 2.5% year-over-year in 2025, ANZ Research said in a Friday report.

South Australia recorded the strongest index performance nationally, despite slower momentum. The broader economy's growth pulse was slightly above trend over the final months of 2025 and early 2026. The data largely predate the escalation of conflict in the Middle East.

The ANZ Stateometer showed that the consumer subindex remained below its long-run trend across all states and territories. National household consumption rose 0.5% quarter-over-quarter, while discretionary spending rose 0.1% over the period as higher rates and fuel prices affected households.

Headline inflation grew to 4.1% on an annual basis during the first quarter, driven by higher fuel prices.

Related Articles

International

RatingDog China Composite PMI Falls From Three-Month High

Business activity across China's private sector rose at a softer pace in June, with the headline RatingDog China Composite Output Index, compiled by S&P Global, coming in at 53.6 from 54 the previous month, according to data released on Friday.A reading above 50 indicates an overall expansion in private sector activity, while a figure below signals a contraction.The latest print, which aggregates combined performance figures across both the manufacturing and service sectors, eased from the three-month high recorded in May. Manufacturing PMI slowed to a three-month low of 51.7 in June from 51.8 in May, while services PMI likewise eased to 54.1 from 54.4.The performance was in contrast with the official government composite PMI released earlier this week, which rose to a six-month high of 50.6 from 50.5 the previous month.

Shanghai Composite^SZSE
International

RatingDog China Services PMI Slows Marginally in June

Business activity across China's private service sector expanded in June, with the headline RatingDog China General Services Business Activity Index, compiled by S&P Global, coming in at 54.1, according to data released on Friday.The latest reading beat the consensus forecast of 53 tracked by Investing.com, and compared with the 54.4 recorded in the previous month.The monthly momentum was primarily driven by increased new business, stronger client demand, and the successful development of projects, S&P Global said.Separately, the official government non-manufacturing PMI edged up to 50.2 in June from 50.1 in May, marking a second consecutive month of expansion for the broader index.

Shanghai Composite^SZSE
International

PwC Expects Hong Kong IPO Market to Reach HK$380 Billion in 2026

PwC forecasts the Hong Kong initial public offering (IPO) market to reach HK$380 billion in 2026, PwC China said Thursday on LinkedIn.PwC's higher forecast was driven by listings from key mainland Chinese companies, dual listings by technology firms and strong investor demand for AI, new materials, semiconductors, chips and creative robotics, the release said.Hong Kong's IPO market fundraising jumped 92% in H1 2026 to hit HK$210 billion through 87 IPOs from the same period last year. The increase in the number of IPOs marked a 98% increase compared to H1 2025, the accounting firm said.

Hang Seng