Hits a 6th consecutive quarter of falling q/q

and much worse than expected, dropping 3.0%

  • expected -1.0% q/q, prior -0.4%

For the y/y, down 7.4%

This data is an input into the economic growth numbers, GDP, for the quarter. GDP is due on Wednesday next week for Q4 2019. The bigger hits to the Oz economy have taken place in Q1 of 2020 which makes the Q4 data somewhat stale, but it does provide a picture of the health of the economy heading into a rocky Q1.

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Background here: