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Financial News: Australia GDP Improves 0.2% On Quarter In Q4

Australia GDP Improves 0.2% On Quarter In Q4

03/05/2024 - 19:49:00 (RTTNews)

(RTTNews) - Australia's gross domestic product expanded a seasonally adjusted 0.2% on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday.

That was in line with expectations and unchanged from the three months prior.

On an annualized basis, GDP advanced 1.5 percent - exceeding expectations for 1.4 percent but slowing from 2.1 percent in the third quarter.

Nominal GDP rose 1.4 percent. The GDP implicit price deflator (IPD) increased 1.2 percent, driven by a rise in export prices as demand from export markets for iron ore and coal increased. Import prices rose 0.8 percent driven by a weaker Australian dollar.

The terms of trade rose 2.2 percent.

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