Australia Q3 GDP: +0.9% q/q (+0.8% expected)
September quarter GDP data from Australia
+0.9% q/q (s.a.)
- expected +0.8% q/q
- Q2 (prior) was +0.3%, revised higher from +0.2% q/q
- expected +2.4% y/y
- prior was +1.9% y/y, revised from +2.0% y/y
The 'chain price index' is an inflation measure, its come in for Q3 at -0.2% q/q and -0.5% y/y ... i.e. low inflation ...
A good beat on expectations that were already high.
The AUD has traded steadily higher into this release, so beware some profit-taking selling.
Despite commodity price falls the growth in export volumes that have come from the huge investments in the mining sector in previous years is a huge contributor to the Australian economy.