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Australian economic growth data: Q3 GDP +0.6% q/q (expected +0.7%, prior +0.9%)

Australian economic growth data: Q3 GDP +0.6% q/q (expected +0.7%, prior +0.9%)

Australian Q3 2022 GDP rises less than expected at +0.6% q/q

  • expected +0.7%, prior +0.9%

For the y/y, comes in at 5.9%

  • expected 6.3%, prior 3.2% (revised down from 3.6%)
  • the annual rate reflects a very low base back in Q3 2021, the Australian economy contracted then with shutdowns in major cities due to the Delta coronavirus outbreak

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  • Terms of trade fell 6.6%, the largest fall since June quarter 2009
  • Household saving... Read More
Posted: Dec 7 2022, 00:30
Author Name: forexlive
Views: 110738

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