Australia's GDP Q2 expands in line with expectations

Australia's Gross Domestic Product (QoQ) for Q2 came at 0.8% vs 0.8% exp and 0.3% last, while the yearly reading registered 1.8% vs 1.8% exp and 1.7% last.

The Aussie eased-off highs reached at 0.8020 and dropped back to test 0.80 handle, as the positive outcome was already priced-in by the markets.

Q2 KEY POINTS - Australian Bureau of Statistics

  • The Australian economy grew by 0.8% in seasonally adjusted chain volume terms in the June quarter.
  • Household final consumption expenditure increased 0.7% and government final consumption expenditure increased 1.2%.
  • Exports of goods and services rose 2.7% for the quarter.
  • Compensation of employees increased 0.7%.
  • The terms of trade fell 6.0% in the quarter.

 

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