Australian Q3 GDP +0.4% vs +0.5% q/q expected

Author: Adam Button | Category: News

Australian Q3 GDP data:

Australia GDP
  • Prior was +0.5% q/q (revised to +0.6%)
  • Estimates ranged from +0.4% to +0.6%
  • GDP +1.7% y/y vs +1.7% expected
  • Prior y/y reading was +1.4%
  • Final consumption expenditure +0.3% q/q vs +1.0% prior
  • Gross fixed capital expenditure -0.2% q/q seasonally adjusted
  • Household spending +0.1% q/q
  • Savings rate 4.0% vs 2.9% prior
This is a disappointment on the headline and AUD has dipped modestly in the aftermath. However the revision to Q2 means that some of the growth has simply shifted a few months and that the ultimate level is virtually the same.

When you dig deeper into the numbers it was a bland quarter in many ways. Consumption and exports were the drivers while pretty much everything else was flat.
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