← SBS News In Depth
Australia's economy stalls despite data centre investment boom artwork

Australia's economy stalls despite data centre investment boom

SBS News In Depth
14:20
Play episode

Show notes

Australia’s economy expanded by just 0.3% in the March quarter, with growth driven largely by investment in data centres while household spending remained subdued and productivity declined. NAB Senior Markets Economist Taylor Nugent joins SBS On the Money to unpack what the latest GDP figures mean for the economy and the outlook for interest rates. Plus, despite the weak economic data, the ASX 200 climbed 0.7% as investors scaled back expectations of a near-term rate rise. Josh Gilbert from eToro explains what drove the market higher, including record highs for mining giants BHP and Rio Tinto, strong gains for the banks and a pullback in technology stocks.

More from this show

More
  1. Cape York's housing crisis: 11 years waiting for a home

    Cape York's housing crisis is worsening, with fears climate migration could put further pressure on First Nations communities. Cape York resident Rebecca Williams spent 11 years o…

    06:02
  2. US midterms: The battle that could derail Trump's presidency

    Donald Trump isn't on the ballot in the US midterm elections, but the stakes for his presidency are enormous. We look at the battlegrounds that could decide control of Congress and…

    07:51
  3. Is AI making us dumber? We asked smart people

    As people outsource an increasing number of cognitive tasks to AI models, high-profile studies are revealing a link to a decline in brain function. So what do we do about it? Conc…

    08:09
  4. Could One Nation sway migrant voters in Victoria?

    Polling ahead of this November's Victorian state election shows a surge in support for One Nation. But the data suggests that some of their rising support has come from a surprisin…

    09:27
  5. Why Black Friday bargains could be bigger this year

    Slowing retail sales could mean bigger Black Friday discounts this year, as shoppers face renewed interest rate pressures. Slowing retail sales and cost-of-living pressures could…

    11:20
  6. Diwali explained: The traditions behind the Festival of Lights

    Why are millions celebrating Diwali, and what's behind the lights, sweets and colourful traditions? Discover the meaning of the Festival of Lights and how it's celebrated across Au…

    07:51
Now Playing
Australia's economy stalls despite data centre investment boom — SBS News In Depth | Podcast | Josplay Music