Australian real GDP -0.5% qtr on qtr, consensus was for +0.2%

GDP fell by a seansonally adjusted 0.5% in the Dec Quarter. Over the year GDP rose 0.3%.

This is the first negative quarter of growth in about 8 years.

The consensus was for +0.2% in the Dec Qtr and an annual rate of +1.2%

Numbers were well outside expectations.