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Australian GDP growth slows in 1Q22
After the re-opening-driven surge in GDP in 4Q21, the 1Q22 GDP figures were always going to look a little tame. And in truth, you can't make much of numbers such as these when they are whipsawing about in this fashion. That said, 0.8%QoQ GDP growth would be a reasonable quarterly growth rate even if there was less volatility, and is equivalent to a 3.2% annualised rate - trend growth or thereabouts for Australia. That growth outcome also occurred even with a very big drag from net exports - data which was already reported the previous day. The chart below shows the other main contributors to GDP, and what it ... (full story)