- 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
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.