GDP in detail: Households drive strong rebound

Wednesday, 2 December 2020

The Australian Bureau of Statistics (ABS) today released the national accounts for the September quarter, which registered a 3.3% rebound in real GDP over the quarter with GDP falling 3.8% through the year.

On a per capita basis, real GDP rose by 3.2% over the quarter and was down 4.7% over the year.

The seasonally adjusted GDP rebound was driven by household consumption expenditure, which contributed 4.0% to growth:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

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.