Australia GDP Growth Rate  1959-2016 | Data | Chart | Calendar | Forecast

Australian GDP expanded 0.9 percent in the September quarter of 2015, as compared to an upwardly revised 0.3 percent growth in the previous quarter and above market consensus. Positive contributions from net exports and final consumption expenditure offset a decline in investment. GDP Growth Rate in Australia averaged 0.87 percent from 1959 until 2015, reaching an all time high of 4.40 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 Statistics.

Australia GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.20 4.40 -2.00 1959 - 2015 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. Australia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-03 02:30 AM Q1 0.9% 0.5% 0.7% 0.6%
2015-09-02 02:30 AM Q2 0.2% 0.9% 0.4% 0.5%
2015-12-02 12:30 AM Q3 0.9% 0.3% 0.8% 0.5%
2016-03-04 12:30 AM Q4 0.78%
2016-06-03 01:30 AM Q1 0.78%
2016-09-02 01:30 AM Q2 0.84%

Australian GDP Growth Beats Expectations


Australian economy expanded 0.9 percent in the September quarter of 2015, as compared to an upwardly revised 0.3 percent growth in the previous quarter and above market consensus. Positive contributions from net exports and final consumption expenditure offset a decline in investment.

In the third quarter, final consumption expenditure grew 0.7 percent, adding 0.5 percentage points to GDP growth. Net exports contributed 1.5 percentage points to GDP growth. Exports of goods and services rose 4.6 percent, the largest increase since the third quarter of 2000. Meanwhile, imports of goods and services fell 2.4 percent. In contrast, gross fixed capital formation declined 4.0 percent, substracting 1.0 percentage points to growth. The contraction was mainly driven by private investment (-2.9 percent) and public investment (-9.2 percent).

By industry, the main factors to the expansion in GDP growth were mining (+5.2 percent, driven by oil and gas extraction, iron ore mining and coal mining); rental, hiring and real estate services (+2.8 percent, supported by property operators and real estate services); financial and insurance services (+1.3 percent, driven by increases across all subsectors); construction (+1.2 percent, led by increases in construction services and residential building); public administration and safety (+1.0 percent) and health care and social assistance (+0.9 percent). In contrast, negative contributions came from agriculture, forestry and fishing (-2.3 percent) and professional, scientific and technical services (-1.2 percent).

Through the year, the economy grew 2.5 percent, accelerating from a downwardly revised 1.9 percent expansion in the June quarter of 2015. An expansion was seen in final consumption expenditure (+2.9 percent) while investment declined by 4.9 percent. In trend terms, the largest contributors came from financial and insurance services (+0.5 percentage points), health (+0.3 percentage points) and mining (+0.3 percentage points). In contrast, the largest detractors were manufacturing (-0.1 percentage points).

Real gross domestic income was flat, while the volume measure of GDP increased by 0.6 percent, the difference reflecting a decrease of 2.9 in the terms of trade. Real net national disposable income decreased by 0.5 percent. Through the year the income fell 1.2 percent compared with 2.3 percent growth for GDP.

ABS l Rida Husna | rida@tradingeconomics.com
12/2/2015 2:07:10 AM

Australia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 0.20 4.40 -2.00 percent [+]
GDP Annual Growth Rate 2.50 2.00 9.00 -3.40 percent [+]
GDP 1454.68 1560.39 1560.39 18.60 USD Billion [+]
GDP Constant Prices 411643.00 407805.00 411643.00 60536.00 AUD Million [+]
Gross National Product 386409.00 386067.00 388716.00 53966.00 AUD Million [+]
Gross Fixed Capital Formation 99722.00 103838.00 111414.00 9292.00 AUD Million [+]
GDP per capita 37828.25 37497.07 37828.25 13397.88 USD [+]
GDP per capita PPP 43218.75 42809.93 43218.75 27898.88 USD [+]
GDP From Agriculture 8733.00 9047.00 9321.00 3045.00 AUD Million [+]
GDP From Construction 31582.00 30606.00 31720.00 7506.00 AUD Million [+]
GDP From Manufacturing 25033.00 24724.00 27976.00 14947.00 AUD Million [+]
GDP From Mining 36217.00 34232.00 36217.00 5812.00 AUD Million [+]
GDP From Public Administration 21535.00 21651.00 21651.00 7323.00 AUD Million [+]
GDP From Utilities 10971.00 10719.00 11003.00 3936.00 AUD Million [+]




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