Australia's economy grows at 1.4% in FY24 in chain-volume terms: ABS

The market sector gross value added (GVA) rose by 1 per cent in the fiscal compared to 3.9 per cent in the preceding one.

Labour productivity was flat in the fiscal, while household saving ratio decreased to 2.5 per cent from 3.8 per cent in fiscal 2022-23, an ABS release said.

National net worth rose by $1.5 trillion to $20.5 trillion in the fiscal, while national net savings reduced to by $27 billion from the preceding fiscal to $141.8 billion.

ALCHEMPro News Desk (DS)