• prior was +0.6%

Beats expectations marginally (by 0.1%), good enough for an AUD move to take out stops above. Sellers now 90/00

ozz gdp 05 March 2014

From the Australian Bureau of Statistics:

EXPENDITURE ON GDP
In seasonally adjusted terms, the contributors to expenditure on GDP were

  • Net Exports (0.6 percentage points),
  • Final consumption expenditure (0.5 percentage points),
  • Public gross fixed capital formation (0.2 percentage points)
  • and Changes in inventories (0.2 percentage points).
  • The main detractor was Private gross fixed capital formation (-0.5 percentage points).

INDUSTRY GROSS VALUE ADDED
In seasonally adjusted terms, the main contributors to GDP were

  • Mining (up 1.2%),
  • Rental, hiring and real estate services (up 4.2%)
  • and Manufacturing (up 1.5%).
  • These industries each contributed 0.1 percentage points to the increase in GDP.

This is a solid result in the face of persistent talk of mining investment slump, & doom and gloom surrounding the Australian economy. Data flow is turning more positive.