Advertisement
The Australian Bureau of Statistics (ABS) today released the national accounts for the December quarter, which registered soft 0.5% growth in real GDP over the quarter and just 2.2% growth over the year.
On a per capita basis, real GDP rose by 0.2% over the quarter and by 0.7% over the year.
According to the ABS, seasonally adjusted GDP growth for the quarter was driven by household consumption spending (0.2%), inventories (0.2%), government consumption (0.1%) and net exports (0.1%), whereas private investment detracted 0.2% from GDP growth:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.