Aussie GDP comes in as a miss of 0.2% Y/Y and a miss of 0.1% Q/Q (Aussie lower)

Ross J Burland FXStreet

Australia’s Q4 national accounts data has arrived.

After mostly softer partial data Mon-Tue, the Bloomberg median forecast had slipped from 0.5% QTR to 0.3%.
Markets were expecting 2.5% for the year (Q4) vs 2.8% prior and 0.3% vs 0.3% prior for Q/Q (Q4).
RBA's Lowe said earlier to expect the data to be significantly below trend.

The outcome arrived as follows:

2.3% for the year (Q4)
0.2% for Q/Q (Q4)

About Gross Domestic Product

The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure of economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.

Additional reading regarding today's events for AUD/USD:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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