Today the data of the Australia’s gross domestic product GDP for the third quarter. The data has been optimistic, exceeding market expectations:
- Australia’s third quarter real GDP: + 3.3% QoQ (compared to the + 2.6% expected).
- Australia’s third quarter real GDP: -3.8% YoY (versus -4.4% expected).
- Final consumption expenditure for the third quarter of Australia: + 5.9%.
- Australia Q3 Gross Fixed Capital Spending -0.1%.
Description of gross domestic product GDP
GDP is published by the Australian Bureau of Statistics and is an estimate of the total value of goods, services and structures produced in Australia. It is a gross measure of economic activity because it indicates the rate of growth of a country’s economy. A reading above expectations is bullish for the Aussie, while a reading below is bearish.
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