Australia's Q1 GDP betters estimates as expected
|Australian economy expanded 1 percent in the first quarter following the fourth quarter's 0.4 percent growth. The actual print bettered estimate of 0.9 percent as expected. The annualized growth rate printed at 3.1 percent, beating the expected figure of 2.8 percent by a big margin.
GDP Summary (Source: ABS)
- The Australian economy grew by 1.0% in seasonally adjusted chain volume terms in the March quarter.
- Exports of goods and services contributed 0.5 percentage points to GDP growth.
- Compensation of employees increased 1.2%.
- Gross operating surplus increased 4.0%.
- The Terms of trade rose 3.3%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.