The Australian Bureau of Statistics has released December quarter GDP and the news is more weakness with a close to consensus 0.5% quarter-on-quarter and 2.5% year-on-year:
DECEMBER KEY FIGURES
Sep Qtr 2014 to Dec Qtr 2014 |
Dec Qtr 2013 to Dec Qtr 2014 | ||
% change |
% change | ||
| |||
GDP (Chain volume measure) | |||
Trend |
0.4 |
2.3 | |
Seasonally adjusted |
0.5 |
2.5 | |
Final consumption expenditure (Chain volume measure) | |||
Trend |
0.7 |
2.5 | |
Seasonally adjusted |
0.8 |
2.6 | |
Gross fixed capital formation (Chain volume measure) | |||
Trend |
-1.7 |
-3.6 | |
Seasonally adjusted |
0.3 |
-2.8 | |
GDP chain price index | |||
Original |
-0.2 |
-0.7 | |
Terms of trade | |||
Seasonally adjusted |
-1.7 |
-10.8 | |
Real net national disposable income | |||
Trend |
-0.1 |
0.2 | |
Seasonally adjusted |
0.4 |
0.5 |
Saved by the consumer or, more particularly, the Iphone6, by the looks of it! Dollar rallied a bit and bonds slumped, for no apparent reason. More to come…