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Financial News: Australia GDP Expands 0.4% On Quarter In Q3

Australia GDP Expands 0.4% On Quarter In Q3

12/03/2019 - 19:46:00 (RTTNews)

(RTTNews) - Australia's gross domestic product gained a seasonally adjusted 0.4 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for an increase of 0.5 percent and down from 0.6 percent in the previous three months.

On a yearly basis, gross domestic product climbed 1.7 percent - in line with expectations and up from 1.4 percent in the three months prior.

Household saving ratio increased to 4.8, while domestic final demand contributed 0.2 percentage points to GDP growth, driven by the public sector.

Net exports contributed 0.2 percentage points to GDP growth, while the terms of trade rose 0.4 percent.

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