Australian Q4 2023 GDP +% q/q
- expected +0.3%, prior +0.2%
For the y/y its up 1.5%
- expected 1.4%, prior 2.1%
The 'Chain price index' is an inflation indication, it rose 2.0% y/y.
More:
- the household savings ratio increased to 3.2%, from 1.9% previously, for the first time since Q3 2021, which is likely reflecting a degree of heightened risk aversion
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The +0.2% q/q is pathetic growth. If it weren't for a rising population (immigration is rocketing higher) GDP would have been negative. GDP itself is the total market value of all final goods and services produced within a country in a given period. By dividing this total by the population, GDP per capita provides a per person average. When you hear the analysts talking about a 'per capita' recession this, slow growth and rising population, is what they are talking about, in a nutshell. Per capita GDP came in at -0.3% q/q and -1% y/y.
This pic is not encouraging:
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Background to this is here:
