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Australian National Accounts: National Income, Expenditure and Product, Jun 2019
The Australian economy grew by 0.4% in seasonally adjusted chain volume terms in the March quarter. Government final consumption expenditure contributed 0.2 percentage points to GDP growth. Net exports contributed 0.2 percentage points to GDP growth driven by an increase in exports. Compensation of employees increased by 1.2%. The terms of trade rose 3.1%.
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Australian economic growth hasn't been this slow since the GFC
According to the Australian Bureau of Statistics (ABS), the economy grew by 0.4% in March quarter in seasonally adjusted chain volume terms, a result that was in line with market expectations. The modest result followed a 0.2% increase in the December quarter that was unchanged from the initial estimate. Despite the modest acceleration in the economy to start the year, growth over the year still slowed to 1.8%, the weakest expansion since the September quarter of 2009, the tail-end of the GFC. “The Australian economy continues to grow but more slowly than our long term average of 3.5%,” said Bruce Hockman, Chief ... (full story)