Australian GDP increased by 0.5% in Q4

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Wednesday, Mar 04 2015

Australian GDP increased by 0.5% in the December quarter, missing forecasts on 0.7% growth. The Terms of trade decreased 1.7%, and Real gross domestic income increased 0.2%. In seasonally adjusted terms, the main contributors to the increase in expenditure on GDP were Net exports and Final consumption expenditure.

The main detractor was Changes in inventories. The main contributors to GDP growth were Construction and Health care and social assistance each contributing 0.1% to the increase in GDP, while the main detractor to growth in GDP was Professional, scientific and technical services.

After the data was released Aussie was pushed below 0.78 handle, but managed to rebound immediately and is currently being traded around 0.7829 area. Pair is likely to find support around 0.7770 level and resistance above 0.7850 area. Later today, in the US session, ADP job figures and Non-Manufacturing PMI data is scheduled for a release.

Last modified on Wednesday, 04 March 2015

More in this category: « Eurozone inflation down by 0.6% US GDP grew less than expected »

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