Aussie GDP beats expectations in Q1

Australia’s Q1 national accounts has been released with GDP growth beating expectations.

Australia’s GDP grew by 1.8% over the march quarter, beating expectations of a 1.5% rise.

Over the year, GDP rose by 1.1%, beating expectations of a 0.6% increase.

Another strong rise in GDP.

Below are the key aggregates:

Big rise in national disposable income on booming iron ore prices.

Note the big lift in national disposable income owing to the boom in iron ore prices.

I’ll be back later with my usual detailed report.