In the latest episode of the Relative Return Insider, host Maja Garaca Djurdjevic and AMP's chief economist Shane Oliver unpack the surprising twists in the Australian economy, diving into the latest GDP numbers, what's really driving consumer spending, and what it all means for the Reserve Bank's next moves.

Australia's economy showed unexpected resilience in the June quarter, growing 0.6 per cent, above expectations and nudging the annual growth rate to 1.8 per cent. But is this growth sustainable, or just a temporary spike driven by cyclone recovery, end-of-year sales, and even the launch of a new Nintendo console?

Oliver weighs in on the short-term boosters versus long-term trends.

They also explore:

• How government spending and defence exercises shaped the GDP numbers.
• The likely trajectory for consumer spending as temporary factors fade.
• The Reserve Bank of Australia's potential interest rate moves amid stronger-than-expected CPI numbers.
• The broader impact of global shocks and economic uncertainty.
• What Australian super funds are doing and why independent investment decisions matter.
• The latest ASX earnings season and what it signals for investors.