Economic growth data for Australia for the July to September 2020 quarter.

GDP (sa) 3.3% q/q for a BEAT

  • expected +2.5%, prior -7.0%

and -3.8% y/y

  • expected -4.4%, prior -6.3%

A (relatively) subdued bounce out of lockdown, not as substantial as many countries have seen. Australia has lagged with 20 % (approx) of the economy still locked in a shut down for much of that quarter due to the resurgence of COVID-19 cases in Melbourne and Victoria.

Economic growth data for Australia for the July to September 2020 quarter.

Household saving ratio 18.9%

  • Q2 was a rate of 22.1%

Household spending +7.9% q/q in Q3

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AUD is a few tics higher. Do remember folks that this is data for July to September and its now December 2.

Oh, and I should mention, this confirms Australia is out of recession. That'll be a headline in media in the hours and day ahead. There is plenty of angst about the definition of a recession being inappropriate. Reasonably so IMO.