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Financial News: Australia GDP Expands 0.5% On Quarter In Q4

Australia GDP Expands 0.5% On Quarter In Q4

03/03/2020 - 22:25:00 (RTTNews)

(RTTNews) - Australia's gross domestic product gained a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2019, the Australian Bureau of Statistics said on Wednesday.

That exceeded expectations for an increase of 0.4 percent but was down from 0.6 percent in the previous three months.

On a yearly basis, GDP climbed 2.2 percent - again beating forecasts for a gain of 2.0 percent and up from 1.8 percent in the third quarter.

The terms of trade fell 5.3 percent, the data showed, while the household saving ratio decreased to 3.6 percent.

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