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Australian National Accounts: National Income, Expenditure and Product June 2022
Key statistics The Australian economy rose 0.9% in seasonally adjusted chain volume measures GDP rose 3.9% in 2021-22 The terms of trade rose 4.6% Household saving ratio decreased to 8.7% from 11.1% June key figures, percentage changes (a): table Australian economy rose 0.9% in the June quarter 2022: Gross Domestic Product (GDP) rose 0.9% this quarter, following a rise of 0.7% in March. The continued growth was aided by the first full quarter of re-opened domestic and international borders since the pandemic began. The Australian economy grew by 3.9% over 2021-22. This is the strongest year-on-year growth since ... (full story)
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Australian Q2 GDP +0.9% q/q (vs. expected +1.0%)
GDP y/y +3.6%. • expected 3.5%, prior 3.3%. • this is 'real' GDP, nominal was +4.1% q/q and 12.1% y/y GDP q/q 0.9%. • expected 1.0%, prior 0.8%. -- Chain Price Index, an indicator of inflation is +4.3%. • prior + 4.9%. ---- Q2 is April, May and June. The RBA began its interest rate hiking cycle in May and hiked again in June. Continued rate hikes in July, August and September might have more of an impact (not a positive one) on economic growth in Q3.