Moody's: Australia's economy may grow by 0.5% in the second quarter.

According to a Moody's analysis report, the Australian economy is expected to grow by 0.5% in the June quarter, a slight increase from the slow growth of 0.2% in the March quarter. Moody's stated that some indicators and the continuously rising business confidence point to an improvement in the economy. With households responding to policy support measures, consumer spending may have turned a corner. However, Moody's also mentioned that the weak public demand in the March quarter may persist, suppressing the growth in private demand. Moody's also stated that the advance shipments made before the deadline for tariffs increased trade volume, but this impact may be offset by weak commodity prices. GDP data will be released on Wednesday.