Australian Economy

Aussie GDP prints weak again

David Llewellyn-Smith
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The ABS is out with Q1 Aussie GDP and the news is more weakness at 0.4 for the QTR and 1.8% over the year:

March key figures

Dec Qtr 2018 to Mar Qtr 2019
Mar Qtr 2018 to Mar Qtr 2019
% change
% change
GDP (Chain volume measure)
Trend
0.3
1.7
Seasonally adjusted
0.4
1.8
Final consumption expenditure (Chain volume measure)
Trend
0.6
2.7
Seasonally adjusted
0.4
2.6
Gross fixed capital formation (Chain volume measure)
Trend
-0.6
-1.0
Seasonally adjusted
-0.7
-1.5
GDP chain price index
Original
1.3
3.8
Terms of trade
Seasonally adjusted
3.1
6.0
Real net national disposable income
Trend
0.9
3.3
Seasonally adjusted
0.9
3.0

Consumer weak as. Business investment hammered. Government investment topped out. Net exports and bureaucrats is all that is growing in one clapped out economy:

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More to come.

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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.
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