Australian GDP in detail: Income shock

Wednesday 3 September 2014

As summarised by Houses & Holes earlier, the Australian Bureau of Statistics (ABS) today released the national accounts for the June quarter, which registered a 0.5% increase in real GDP over the quarter and a 3.1% rise over the year. The result beat market expectations for 0.4% growth over the quarter and 3.0% growth over the year.

On a per capita basis, however, real GDP increased by only 0.1% and by 1.5% over the year. Further, real national disposable income per capital fell by 0.6% over the quarter and by 0.5% over the year.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.