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Financial News: Australia GDP Climbs 3.1% On Quarter In Q4

Australia GDP Climbs 3.1% On Quarter In Q4

03/02/2021 - 19:38:00 (RTTNews)

(RTTNews) - Australia's gross domestic product expanded a seasonally adjusted 3.1 percent on quarter in the fourth quarter of 2020, the Australian Bureau of Statistics said on Wednesday.

That beat forecasts for an increase of 2.5 percent following the upwardly revised 3.4 percent gain in the previous three months (originally 3.3 percent).

On a yearly basis, GDP was down 1.1 percent - again exceeding expectations for a decline of 1.8 percent after sinking 3.8 percent in the three months prior.

Capital expenditure was up 3.6 percent on quarter after slipping 0.1 percent in Q3.

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