CANBERRA, March 4 (Xinhua) -- Australia's economy grew by 0.8 percent in the final quarter of 2025, according to official data released on Wednesday, beating market expectations.

Data from the Australian Bureau of Statistics (ABS) showed that GDP grew by 0.8 percent in the quarter ending December 2025 and by 2.6 percent for the calendar year.

It marks an increase from quarterly growth of 0.5 percent and annual growth of 2.1 percent in the preceding September quarter.

The Australian Broadcasting Corporation reported on Wednesday morning that economists were expecting GDP growth of 0.6 percent for the December quarter and an annual growth rate of 2.2 percent.

Official forecasts released by the central Reserve Bank of Australia (RBA) in February projected GDP growth of 2.3 percent for the 12 months to the end of December.

"These really encouraging numbers are a very robust foundation from which we confront intense global economic volatility, made worse by the dramatic escalation of hostilities in Iran and across the Middle East," Treasurer Jim Chalmers said in a statement.

The ABS said that GDP per capita increased by 0.9 percent annually to December, representing the highest growth over a 12-month period since December 2022. ■