Australia’s GDP expands 0.9% in Q3, beats estimates

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The latest figures from the Australian Bureau of Statistics (ABS) showed that Australia’s GDP expanded 0.9% in the September quarter, against 0.5% growth seen previously. Markets had predicted the economy to grow 0.8% in Q3. While on annual basis, the economy grew 2.5% versus 2.4% increase expected.

    As noted by ABS, “The largest contribution to economic growth this quarter was Exports of goods and services, up 4.6%. This was concentrated in mining commodities, which is reflected by strong growth in Mining activity, bouncing back after a decline in the June quarter. Gross fixed capital formation was the major reason for the weakness in the domestic economy.”
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