Treasurer Scott Morrison 'optimistic' despite lower-than-forecast growth

The Australian economy grew less than expected last year, dragged down by weaker exports.

Treasurer Scott Morrison released the latest figures today which show a growth rate of 2.4 percent in 2017, down from the forecast 2.6 percent.

The December quarter saw a growth rate of 0.4 percent.

Despite the lower result he said it showed the "continued resilience of the economy".

"I'm optimistic," Mr Morrison said.

"(This) is a sound set of numbers demonstrating the resilience of the Australian economy.

"Australians are backing themselves, getting jobs, spending more, investing more.

"We can't take it for granted. We need to stick the plan for jobs and growth."

An increase in domestic consumption helped propel growth, but it was held back by a drop in exports.

And that, the Treasurer said, highlighted the need to keep fighting for access to international markets.

He said job creation had had a "profound impact" on growth, describing 2017 as the "year of jobs", with 1100 created each day.

The government will use the result to boost its push for more company tax cuts, arguing they'd create more jobs, increase investment, and productivity and wages growth.

Income grew five percent last year.