Australia's GDP expands 0.9% q/q in Q2, beats estimates

Dhwani Mehta FXStreet

The Australian economy expanded 0.9 percent in the second quarter of 2018 following the first quarter's 1 percent growth, the Australian Bureau of Statistics (ABS) reported on Wednesday. The actual print bettered estimate of 0.7 percent. The annualized growth rate printed 3.4 percent, beating the expected figure of 2.8 percent by a big margin.

Summary (Source: ABS)

The Australian economy grew by 0.9% in seasonally adjusted chain volume terms in the June quarter.

Household final consumption expenditure increased 0.7% during the quarter contributing 0.4 percentage points to GDP growth.

Compensation of employees increased by 0.7%.

Net exports contributed 0.1 percentage points to GDP growth.

The terms of trade fell 1.3%.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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