Back
3 Dec 2014
Australia's GDP Q3 misses expectations by large margin
FXStreet (Bali) - Australia's GDP (QoQ) for the third trimester came at +0.3% vs 0.7% exp and 0.5% last, a much worse-thane-expected result, while the yearly reading for Q3 stood at +2.7% vs 3.1% exp and 3.1% last.
Key points Q3 - Stats Australia
EY AGGREGATES: In trend terms, GDP increased 0.5% in the September quarter 2014. Gross value added per hour worked in the market sector rose 0.2% and the Terms of trade fell 3.0%. In seasonally adjusted terms, GDP increased by 0.3% in the September quarter. The Terms of trade decreased 3.5%, and Real gross domestic income decreased 0.4%.
EXPENDITURE ON GDP: In seasonally adjusted terms, the main contributors to the increase in expenditure on GDP were Net exports (0.8 percentage points) and Final consumption expenditure (0.4 percentage points) The main detractors were Private gross fixed capital formation (-0.5 percentage points) and Public gross fixed capital formation (-0.2 percentage points).
INDUSTRY GROSS VALUE ADDED: In seasonally adjusted terms, the main contributor to GDP growth was Financial and insurance services (0.2 percentage points), with Mining and Information media and telecommunications each contributing 0.1 percentage points to the increase in GDP. The main detractors to growth in GDP were Construction (-0.2 percentage points) and Professional, scientific and technical services (-0.2 percentage points).
Key points Q3 - Stats Australia
EY AGGREGATES: In trend terms, GDP increased 0.5% in the September quarter 2014. Gross value added per hour worked in the market sector rose 0.2% and the Terms of trade fell 3.0%. In seasonally adjusted terms, GDP increased by 0.3% in the September quarter. The Terms of trade decreased 3.5%, and Real gross domestic income decreased 0.4%.
EXPENDITURE ON GDP: In seasonally adjusted terms, the main contributors to the increase in expenditure on GDP were Net exports (0.8 percentage points) and Final consumption expenditure (0.4 percentage points) The main detractors were Private gross fixed capital formation (-0.5 percentage points) and Public gross fixed capital formation (-0.2 percentage points).
INDUSTRY GROSS VALUE ADDED: In seasonally adjusted terms, the main contributor to GDP growth was Financial and insurance services (0.2 percentage points), with Mining and Information media and telecommunications each contributing 0.1 percentage points to the increase in GDP. The main detractors to growth in GDP were Construction (-0.2 percentage points) and Professional, scientific and technical services (-0.2 percentage points).