Australian GDP beats

The ABS has released December quarter National Accounts and the result is a big beat with egg all over yours truly:

		Sep Qtr 2015 to Dec Qtr 2015	Dec Qtr 2014 to Dec Qtr 2015
		% change	% change

GDP (Chain volume measure)
	Trend	0.7	2.8
	Seasonally adjusted	0.6	3.0
Final consumption expenditure (Chain volume measure)
	Trend	0.8	3.1
	Seasonally adjusted	0.7	3.1
Gross fixed capital formation (Chain volume measure)
	Trend	-1.8	-4.7
	Seasonally adjusted	-0.6	-4.7
GDP chain price index
	Original	-0.7	-1.2
Terms of trade
	Seasonally adjusted	-3.2	-12.0
Real net national disposable income
	Trend	-0.3	-1.2
	Seasonally adjusted	-0.1	-1.1

0.6% on the quarter with pretty much everything ahead of forecast, 3% and above trend for the year.

Dollar to the moon, bonds shellacked and H&H to the woodshed.

Unleash the crowing!

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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.