The ABS has just released the September quarter national accounts and it has beat expectations with a 0.9% quarterly rise versus expectations of 0.8% growth. Annual growth accelerated to 2.5% versus 2.4% expected:
Per capita real GDP rose by 0.6% over the September quarter, whereas aggregate nominal GDP rose by 0.8% over the quarter and by 2.2% for the year.
As expected, real national disposable income got hammered, down 0.1% over the quarter and by 1.0% over the year on the back of the falling terms-of-trade (down 2.4% over the quarter).
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I’ll be back soon with my usual detailed report.
