GDP in detail: Domestic economy stillborn

Wednesday, 4 December 2019

The Australian Bureau of Statistics (ABS) today released the national accounts for the September quarter, which registered soft 0.4% growth in real GDP over the quarter and just 1.7% growth over the year.

On a per capita basis, real GDP was flat over the quarter, and rose a mere 0.2% over the year.

According to the ABS, seasonally adjusted GDP growth for the quarter was driven by public consumption spending and net exports, which each contributed 0.2% to growth:

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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.