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4 Jun 2014
Australia's Q1 GDP outstrips market expectations
FXStreet (Bali) - Australia's GDP(QoQ) in Q1 came at +1.1* vs +1.0% exp and +0.8% last, with the annual reading standing at +3.5% vs 3.3% exp and 2.8% last.
Official release
KEY AGGREGATES
In trend terms, GDP increased 0.8% in the March quarter 2014. Gross value added per hour worked in the market sector rose 0.8% and the Terms of trade fell 0.6%. In seasonally adjusted terms, GDP increased by 1.1% in the March quarter. The Terms of trade decreased 1.2%, and Real gross domestic income increased 0.8%.
EXPENDITURE ON GDP
In seasonally adjusted terms, the contributors to the increase in expenditure on GDP were Net exports (1.4 percentage points), Final consumption expenditure (0.3 percentage points) and Private gross fixed capital formation (0.2 percentage points). The main detractor was Changes in inventories (-0.6 percentage points).
INDUSTRY GROSS VALUE ADDED
In seasonally adjusted terms, the main contributors to GDP were Mining (up 8.6%), Financial and insurance services (up 2.8%) and Construction (up 3.0%). Mining contributed 0.9 percentage points to the increase in GDP while Financial and insurance services and Construction each contributed 0.2 percentage points.
Official release
KEY AGGREGATES
In trend terms, GDP increased 0.8% in the March quarter 2014. Gross value added per hour worked in the market sector rose 0.8% and the Terms of trade fell 0.6%. In seasonally adjusted terms, GDP increased by 1.1% in the March quarter. The Terms of trade decreased 1.2%, and Real gross domestic income increased 0.8%.
EXPENDITURE ON GDP
In seasonally adjusted terms, the contributors to the increase in expenditure on GDP were Net exports (1.4 percentage points), Final consumption expenditure (0.3 percentage points) and Private gross fixed capital formation (0.2 percentage points). The main detractor was Changes in inventories (-0.6 percentage points).
INDUSTRY GROSS VALUE ADDED
In seasonally adjusted terms, the main contributors to GDP were Mining (up 8.6%), Financial and insurance services (up 2.8%) and Construction (up 3.0%). Mining contributed 0.9 percentage points to the increase in GDP while Financial and insurance services and Construction each contributed 0.2 percentage points.