Australia GDP Growth Rate 1959-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Australia expanded 0.50 percent in the fourth quarter of 2014 over the previous quarter. GDP Growth Rate in Australia averaged 0.88 percent from 1959 until 2014, reaching an all time high of 4.50 percent in the first quarter of 1976 and a record low of -2 percent in the second quarter of 1974. GDP Growth Rate in Australia is reported by the Australian Bureau of Statistic.

      Forecast    
Australia GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.40 4.50 -2.00 1959 - 2014 percent Quarterly
Australia's economy is dominated by its services sector, yet its economic success is based on abundance of agricultural and mineral resources. Australia's comparative advantage in the export of primary products is a reflection of the natural wealth of the Australian continent and its small domestic market. The country is a major regional financial centre and a vital component of the global financial system. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Australia GDP Growth Rate - was last refreshed on Tuesday, April 21, 2015.


Australian Economy Grows 0.5% in Q4


Australian GDP advanced 0.5 percent in the fourth quarter of 2014, rising from upwardly revised 0.4 percent expansion reported in the previous three month period and matching market estimates. Net exports and consumption contributed the most to the growth while changes in inventories dragged the expansion down.

Net exports contributed 0.7 percentage points to GDP growth. Household final consumption expenditure contributed 0.5 percentage points to GDP growth and Total dwelling construction 0.1 percentage points to GDP growth. This was offset by a -0.6 percentage point contribution to GDP growth from Changes in inventories and a -0.1 percentage point contribution from Non-dwelling construction.

On the industry side, the main contributors to GDP growth were Construction and Health care and social assistance each contributing 0.1 percentage points to the increase in GDP. The main detractor to growth in GDP was Professional, scientific and technical services (-0.1 percentage points).

The December quarter saw the Terms of trade decrease 1.7 per cent in seasonally adjusted terms.

Compared with the same quarter a year earlier, the economy grew 2.5 percent, the slowest year-to-year pace in four quarters.

ABS | anna@tradingeconomics.com
3/4/2015 1:04:53 AM


Recent Releases

Australian Economy Slows in Q3
Australian GDP grew 0.3 percent in the third quarter of 2014, down from 0.5 percent expansion reported in the previous three month period and below markets expectations. Net exports and consumption contributed the most to the growth while investment dragged the expansion down. Published on 2014-12-03

Australian Economy Grows 0.5% in Q2
In the second quarter of 2014, Australia's GDP grew 0.5 percent in seasonally adjusted terms, beating market expectations and driven by consumption and private investment amid weakening exports. Published on 2014-09-03


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-03 02:30 AM
GDP Growth Rate QoQ  Q2
0.5% 1.1% 0.4% 0.3%
2014-12-03 12:30 AM
GDP Growth Rate QoQ  Q3
0.3% 0.5% 0.7% 0.76%
2015-03-04 12:30 AM
GDP Growth Rate QoQ  Q4
0.5% 0.4% (R) 0.5% 0.6%
2015-06-03 02:30 AM
GDP Growth Rate QoQ  Q1
0.5% 0.5%
2015-09-02 02:30 AM
GDP Growth Rate QoQ  Q2
0.5%
2015-12-02 12:30 AM
GDP Growth Rate QoQ  Q3
0.57%


Australia GDP Last Previous Highest Lowest Unit
GDP 1560.60 1532.40 1560.60 18.60 USD Billion [+]
GDP Growth Rate 0.50 0.40 4.50 -2.00 percent [+]
GDP Annual Growth Rate 2.50 2.70 9.00 -3.40 percent [+]
GDP Constant Prices 397341.00 395170.00 397341.00 59435.00 AUD Million [+]
Gross National Product 380643.00 378803.00 380643.00 52637.00 AUD Million [+]
GDP per capita 37492.85 37175.44 37492.85 13356.10 USD [+]
Gross Fixed Capital Formation 102472.00 102207.00 108733.00 9150.00 AUD Million [+]
GDP per capita PPP 42809.93 42447.51 42809.93 27898.88 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil 0.30 Nov/14 0.20 4.50 -4.20 percent [+]
Canada 0.60 Nov/14 0.80 3.33 -1.80 percent [+]
China 1.30 Feb/15 1.50 2.50 1.40 percent [+]
Euro Area 0.30 Nov/14 0.20 1.30 -2.80 percent [+]
France 0.10 Nov/14 0.30 1.60 -1.70 percent [+]
Germany 0.70 Nov/14 0.10 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -2.06 Nov/14 3.16 3.83 -3.57 percent [+]
Italy 0.00 Nov/14 -0.10 6.00 -3.50 percent [+]
Japan 0.40 Nov/14 -0.60 3.20 -4.00 percent [+]
Mexico 0.70 Nov/14 0.50 2.90 -6.60 percent [+]
Netherlands 0.80 Nov/14 0.30 2.00 -2.20 percent [+]
Russia 0.00 Nov/14 0.00 4.10 -5.40 percent [+]
South Korea 0.30 Nov/14 0.80 6.80 -7.00 percent [+]
Spain 0.80 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.70 Nov/14 0.50 6.69 -7.57 percent [+]
United Kingdom 0.60 Nov/14 0.60 5.00 -2.70 percent [+]
United States 2.20 Nov/14 5.00 16.90 -10.00 percent [+]