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Gross Domestic Product
GDP is the broadest measures of the economy, encompassing every sector of the economy, such as consumer spending, business and residential investment. Increased growth relates to better corporate profits, stock growth, and eventually wages.
Main Indicator: GDP q/q
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| 1.0% | 1.0% | 0.7% | 0.9% | ||
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For 3rd Quarter (SA). GDP y/y: 4.3%, forecast 4.8%, pr. 3.7% (Rev from 4.3%). Australian Bureau of Statistics The non-farm component increased by 0.6%. The terms of trade fell 0.8%, the first decrease since Q4 of 2001. In seasonally adjusted terms, Agriculture, forestry and fishing (0.4 percentage points) and Finance and insurance (0.2 percentage points) were the largest contributors to GDP growth. Mining detracted 0.2 percentage points from GDP growth. |
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Table of Past Data
| 6/5 | 9/3 | 12/4 | |||||||||
| Actual | 1.6% | 0.9% | 1.0% | ||||||||
| Forecast | 1.0% | 0.6% | 1.0% | ||||||||
| Previous | 1.1% | 1.6% | 0.7% | ||||||||
| Revised From | 1.0% | N/A | 0.9% | ||||||||
Past Releases
|
Actual | Forecast | Previous | Revised Form | |
| 0.9% | 0.6% | 1.6% | N/A | ||
| Australia's growth in the 2nd Quarter surprised expectations, increasing higher than forecast. However, 2nd quarter growth was smaller than in the 1st Quarter. Annually the report showed a change of 4.3% in GDP. The main contributor was an increase of 4.5% in private business investment, which helped support strong consumption expenditure (+0.5%). Total exports increased 0.8% q/q (gold had a 21% rise), while total imports rose 1.1% q/q. The terms of trade feel a 0.1%, meaning there was a larger outlay in imports than export. That is the case for the first time since the 4th quarter of 2001. The 4.3% growth y/y is the highest of any of the G7 countries. The RBA raised rates on Aug. 8th to 6.5%, but is expected to leave interest rates unchanged this week. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.6% | 1.0% | 1.1% | 1.0% | ||
| Beating market expectations, the GDP from Dec. 06 to Mar. 07 was the highest since the same quarter of 2003. Among the key aggregates of GDP, the Australian Bureau of Statistics reported: "Non-farm GDP increased by 1.7%. The terms of trade increased by 1.4% resulting in a 1.9% increase in Real gross domestic income." -(ABS) The next release will be on September 5. | |||||