Australian GDP powers on exports

Wednesday 4 June 2014

The Australian Bureau of Statistics has just released National Accounts data and it’s good as expected at 1.1% for the quarter and 3.5% for the year:

The only real surprise for me is private gross-fixed capital formation (investment) which added to GDP on smaller falls:

Income also improved though that will be temporary. Detailed post to come.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.