5 Mar 2014
Australia Q4 GDP beats estimates
FXStreet (Bali) - Australia's Gross Domestic Product (QoQ)for Q4 2013 came at 0.8% vs 0.7% expected and 0.6% last, while the yearly reading stood at 2.8% vs 2.5% expected and 2.3% last. The data is a positive AUD input.
KEY AGGREGATES
In trend terms, GDP increased 0.7% in the December quarter 2013. Gross value added per hour worked in the market sector rose 0.6% and the Terms of trade fell 0.9%.
In seasonally adjusted terms, GDP increased by 0.8% in the December quarter. The Terms of trade increased 0.6%, and Real gross domestic income increased 0.9%.
EXPENDITURE ON GDP
In seasonally adjusted terms, the contributors to expenditure on GDP were Net Exports (0.6 percentage points), Final consumption expenditure (0.5 percentage points), Public gross fixed capital formation (0.2 percentage points) and Changes in inventories (0.2 percentage points). The main detractor was Private gross fixed capital formation (-0.5 percentage points).
INDUSTRY GROSS VALUE ADDED
In seasonally adjusted terms, the main contributors to GDP were Mining (up 1.2%), Rental, hiring and real estate services (up 4.2%) and Manufacturing (up 1.5%). These industries each contributed 0.1 percentage points to the increase in GDP.
KEY AGGREGATES
In trend terms, GDP increased 0.7% in the December quarter 2013. Gross value added per hour worked in the market sector rose 0.6% and the Terms of trade fell 0.9%.
In seasonally adjusted terms, GDP increased by 0.8% in the December quarter. The Terms of trade increased 0.6%, and Real gross domestic income increased 0.9%.
EXPENDITURE ON GDP
In seasonally adjusted terms, the contributors to expenditure on GDP were Net Exports (0.6 percentage points), Final consumption expenditure (0.5 percentage points), Public gross fixed capital formation (0.2 percentage points) and Changes in inventories (0.2 percentage points). The main detractor was Private gross fixed capital formation (-0.5 percentage points).
INDUSTRY GROSS VALUE ADDED
In seasonally adjusted terms, the main contributors to GDP were Mining (up 1.2%), Rental, hiring and real estate services (up 4.2%) and Manufacturing (up 1.5%). These industries each contributed 0.1 percentage points to the increase in GDP.