The ABS has released September quarter national accounts and they are hilariously bad:
SEPTEMBER KEY FIGURE
Jun Qtr 2016 to Sep Qtr 2016 |
Sep Qtr 2015 to Sep Qtr 2016 | ||
% change |
% change | ||
| |||
GDP (Chain volume measure) | |||
Trend |
0.2 |
2.2 | |
Seasonally adjusted |
-0.5 |
1.8 | |
Final consumption expenditure (Chain volume measure) | |||
Trend |
0.6 |
3.0 | |
Seasonally adjusted |
0.3 |
2.8 | |
Gross fixed capital formation (Chain volume measure) | |||
Trend |
-0.8 |
-2.4 | |
Seasonally adjusted |
-2.7 |
-2.5 | |
GDP chain price index | |||
Original |
1.2 |
1.4 | |
Terms of trade | |||
Seasonally adjusted |
4.5 |
1.5 | |
Real net national disposable income | |||
Trend |
0.9 |
3.3 |
Yes, that is -0.5% and 1.8% versus expected of -0.1% Q/Q and 2.2% Y/Y. Just as well it’s not spread over two quarters or you might call that a recession!
Much more to come.
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