The Australian Q4 GDP results are in, post is here: A big BEAT ... AUD higher on the surprise
To save you a click:
Australian Q4 2015 GDP data
+0.6 % q/q (sa)
- expected +0.4%, prior of +1.1%, revised much higher from +0.9%
+3.0 % y/y
- expected +2.5% and prior was 2.7%, revised higher from +2.5%
ANZ Chief Economist Warren Hogan's quick response (bolding is mine):
- Solid Q4 GDP plus upward revisions to past numbers means Australian growth 3.1% end 2015. That's as good as it gets in a post crisis world
- Consumers leading Australia's economy forward as mining slumps and business investment meanders. Consumer confidence key to 2016 prospects
- The Q4 GDP numbers are a great result but they are history. They are confirmation the 2016 starting point is better than we had thought
- Our measure of non-mining economic activity is the strongest since the GFC indicating a successful post mining boom transition is underway
- Household income super weak in Q4. Strong consumption driven by unbelievable drop in the savings rate to 7.6%. Wealth effects?