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Financial News: Australia GDP Climbs 3.3% On Quarter In Q3

Australia GDP Climbs 3.3% On Quarter In Q3

12/01/2020 - 19:45:00 (RTTNews)

(RTTNews) - Australia's gross domestic product was up a seasonally adjusted 3.3 percent on quarter in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday.

That beat expectations for a gain of 2.6 percent following the 7.0 percent drop in the second quarter.

On a yearly basis, GDP fell 3.8 percent - but that also beat forecasts for a decline of 4.4 percent following the 6.3 percent drop in the three months prior.

The GDP deflator was down 0.1 percent on quarter after slipping 0.6 percent in Q2.

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