Following some strong partials the prior day, Australia’s first-quarter national accounts have been released as follows in the form of Gross Domestic Product data:
Aussie GDP
Q1 Real GDP +1.8 pct qtr/qtr, s/adj (Reuters poll +1.5 pct)
q1 real gdp +1.1 pct yr/yr, s/adj (reuters poll +0.6 pct)
q1 final consumption expenditure +0.7 pct, s/adj
q1 gross fixed capital expenditure +4.7 pct, s/adj
q1 chain price index +3.1 pct
AUD has hardly reacted to the better than expected outcome while markets are likely paying more attention to the Reserve Bank of Australia’s focus on subdued inflation and wage pressures as well as virus uncertainty.
More to come…
About GDP
The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure of the economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.
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