The National Accounts are out and boom!
MARCH KEY FIGURES
Dec Qtr 2015 to Mar Qtr 2016 |
Mar Qtr 2015 to Mar Qtr 2016 | ||
% change |
% change | ||
| |||
GDP (Chain volume measure) | |||
Trend |
0.9 |
3.2 | |
Seasonally adjusted |
1.1 |
3.1 | |
Final consumption expenditure (Chain volume measure) | |||
Trend |
0.7 |
3.1 | |
Seasonally adjusted |
0.7 |
3.2 | |
Gross fixed capital formation (Chain volume measure) | |||
Trend |
-1.5 |
-5.9 | |
Seasonally adjusted |
-1.7 |
-5.7 | |
GDP chain price index | |||
Original |
-0.4 |
-1.7 | |
Terms of trade | |||
Seasonally adjusted |
-1.9 |
-11.5 | |
Real net national disposable income | |||
Trend |
– |
-1.1 | |
Seasonally adjusted |
0.2 |
-1.3 | |
| |||
– nil or rounded to zero (including null cells) |
All net exports:
Dollar loved it. Bonds flogged. Fade it because it is meaningless for income and the labour market and therefore interest rates. All growth is emanating from capital intensive bulk commodity exports that are losing jobs and for whom prices are crashing. Remarkable.
More to come.
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