Australian GDP grew by 0.6% Q3

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Wednesday, Dec 06 2017

Australian GDP grew by 0.6% Q3

The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter. Compensation of employees increased 1.2%. 17 of 20 industries recorded positive growth this quarter. New engineering construction increased 6.3%. Household final consumption expenditure increased 0.1% for the quarter.

The terms of trade had a small fall of 0.4% in the September quarter 2017 following a decline of 6.0% in the June quarter. The fall this quarter was driven by a 3.0% decrease in the export price index, reflecting lower prices received for coal, metal ore and gas, which was partially offset by a 1.6% fall in the prices paid for imports. The domestic final demand implicit price deflator was flat, the weakest reading of domestic price pressures since March quarter 2016.

More in this category: « ISM Non-Manufacturing PMI down to 57.4 German Factory Orders increased by 0.5% »

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