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AAP
AAP
Business
Jacob Shteyman

Consumer boom drives surprise jump in economic growth

Economy Robert Thompson Reserve Bank Australia GDP Pat Bustamante RBA Economic Growth Nomura
Australian households have increased their spending, contributing to a pick-up in the economy. (Bianca De Marchi/AAP PHOTOS)

A jump in household consumption has driven Australia's economic growth to the fastest rate in almost two years, offering the strongest sign yet that a long-anticipated recovery in the private sector is on track.

The nation's gross domestic product grew at 1.8 per cent over the year to June, the Australian Bureau of Statistics reported in quarterly national accounts released on Wednesday.

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