Australia’s fourth quarter national growth data was released today, where gross domestic product GDP was expected to rise 2.5% QoQ, bringing year-end growth to -1.8% YoY.
Nevertheless, the data has arrived better than expected for the quarter.
PIB australiano:
- Fourth quarter real GDP: + 3.1% qoq (Reuters poll + 2.5%).
- Fourth Quarter Real GDP: -1.1% YoY (Reuters poll -1.8%).
- Final consumption expenditure in the fourth quarter: + 3.2%.
- Fourth quarter gross fixed capital expenditure: +3.6.
About Australia’s gross domestic product GDP
GDP is published by the Australian Bureau of Statistics and is an estimate of the total value of goods, services and structures produced in Australia. It is a gross measure of economic activity because it indicates the rate of growth of a country’s economy. A reading above expectations is bullish for the Australian dollar, while a reading below is bearish.
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