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

Australian GDP expanded 0.6 percent in the December quarter of 2015, as compared to an upwardly revised 1.1 percent growth in the previous quarter and above market consensus. While final consumption expenditure contributed positively to the expansion, investment fell and net exports gave no contribution to the GDP growth. Through the year, the economy grew by 3.0 percent, accelerating from an upwardly revised 2.7 percent in the September quarter and beating expectations. It is the fastest expansion since the third quarter 2012. 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
0.60 1.10 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2016-03-02 12:30 AM Q4 0.6% 1.1% 0.4% 0.5%
2016-06-01 01:30 AM Q1 0.6% 0.7%
2016-09-02 01:30 AM Q2 0.6%
2016-12-02 12:30 AM Q3 0.8%

Australian GDP Growth Beats Estimates in Q4


Australian GDP expanded 0.6 percent in the December quarter of 2015, as compared to an upwardly revised 1.1 percent growth in the previous quarter and above market consensus of a 0.4 percent growth. While final consumption expenditure contributed positively to the expansion, investment fell and net exports gave no contribution to the GDP growth.

In the fourth quarter of 2015, final consumption expenditure grew by 0.7 percent, adding 0.5 percentage points to GDP growth. Household spending  rose 0.8 percent while government expenditure increased by 0.7 percent. In contrast, gross fixed capital formation declined by 0.6 percent, substracting 0.2 percentage points to growth. Private investment fell 1.9 percent, mainly due to a decrease in new engineering construction. Meanwhile, public investment rose 6.0 percent.  Exports and imports of goods and services rose 0.6 percent respectively, giving no contribution to the GDP growth from net exports. Changes in inventories unexpectedly contributed 0.2 percentage points to GDP, mainly driven by a rise in farm and retail trade industries.

By industry, positive contributions came from agriculture, forestry and fishing (+1.3 percent, driven by livestock production, recovery in cotton and a modest increase in wheat), mining (+1.1 percent, supported by oil and gas extraction, coal mining and iron ore mining); information media and telecommunications (+2.7 percent, driven by a rise in telecommunication services); rental, hiring and real estate services (+2.8 percent, driven by a rise across both subdivisions) and arts and recreation services (+2.2 percent, driven by sports and recreation activities). In contrast, manufacturing sector dropped 2.1 percent, driven by  a fall in petroleum, coal and chemicals;  metal products; machinery and equipment and food, beverage and tobacco. A contraction was also seen for accommodation and food services (-1.7 percent, driven by a weak quarter for accommodation services). 

Through the year, the economy grew by 3.0 percent, accelerating from an upwardly revised 2.7 percent in the September quarter and beating expectations. It is the fastest expansion since the third quarter 2012. In trend terms, the largest contributors to the economy came from mining (+0.4 percentage points), financial and insurance services (+0.4 percentage points), construction (+0.3 percentage points), public administration and safety (+0.3 percentage points), and health care and social assistance (+0.3 percentage points). In contrast, the largest detractors were manufacturing (-2.8 percentage points).

Real gross domestic income increased by 0.1%, while the volume measure of GDP increased by 0.7%, the difference reflecting a decrease of 3.0% in the Terms of trade in trend terms.



Real net national disposable income decreased by 0.3 percent. Through the year the income fell 1.2 percent compared with 2.8 percent growth for GDP.

ABS l Rida Husna | rida@tradingeconomics.com
3/3/2016 12:38:30 PM

Australia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 1.10 4.40 -2.00 percent [+]
GDP Annual Growth Rate 3.00 2.70 9.00 -3.50 percent [+]
GDP 1454.68 1560.39 1560.39 18.60 USD Billion [+]
GDP Constant Prices 415236.00 412628.00 415236.00 60536.00 AUD Million [+]
Gross National Product 386902.00 386409.00 388716.00 53966.00 AUD Million [+]
Gross Fixed Capital Formation 100085.00 100722.00 111503.00 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 8876.00 8733.00 9321.00 3045.00 AUD Million [+]
GDP From Construction 31939.00 31582.00 31939.00 7506.00 AUD Million [+]
GDP From Manufacturing 24237.00 25033.00 27976.00 14947.00 AUD Million [+]
GDP From Mining 36544.00 36217.00 36544.00 5812.00 AUD Million [+]
GDP From Public Administration 21882.00 21535.00 21882.00 7323.00 AUD Million [+]
GDP From Utilities 11307.00 10971.00 11307.00 3936.00 AUD Million [+]




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