Australia's Economy Shows Resilience Amid Global Storm: GDP Grows, EV Sales Surge, but Rate Hikes Loom

Australia's economy grew a steady 2.1% year-on-year to June, avoiding the collapse many feared after the US-Iran conflict sparked a global oil shock. The Australian Bureau of Statistics reported a quarterly GDP increase of 0.4%, with Treasurer Jim Chalmers calling it a "robust result in challenging international circumstances." The key surprise: we're buying electric vehicles instead of European holidays, with record EV and hybrid sales accounting for...