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Financial News: Australia GDP Expands 0.9% In Q2

Australia GDP Expands 0.9% In Q2

09/04/2018 - 21:40:00 (RTTNews)

(RTTNews) - Australia's gross domestic product climbed a seasonally adjusted 0.9 percent on quarter in the second quarter of 2018, the Australian Bureau of Statistics said on Wednesday.

That beat forecasts for a gain of 0.7 percent following the 1.0 percent gain in the three months prior.

On a yearly basis, GDP was up 3.4 percent - also exceeding forecasts for 2.9 percent and up from 3.1 percent in the previous three months.

Household final consumption expenditure increased 0.7 percent during the quarter, contributing 0.4 percentage points to GDP growth.

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