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The Economy of Australia Official Figures | Gross Domestic Product

According to Australia economy official figures, it shows the increase of the economy in the country by 0.6 per cent within the September quarter.

Just recently, the Australian Bureau of Statistics (ABS) said that for the 12 months to September was 2.3 per cent growth according to the Gross Domestic Product (GDP) in seasonally adjusted terms. GDP was expected to climb through 0.7 per cent within the quarter of September for an annual rate of 2.5 per cent, as affirmed by an AAP survey of 13 economists.Gross Domestic Product

The growth in the September quarter follows a 0.7 per cent in GDP for the June quarter increase.

Within the September quarter, the household spending grew up to 0.4 per cent and over the year was up to 1.8 per cent to September, which is seasonally adjusted.

It has increased up to 1.3 per cent as the total investment in housing in the quarter designated up to 14.6 per cent in the year to September.

The total gross fixed capital construction: investment by households, businesses and government, cut down by 0.2 per cent within the quarter and 1.2 per cent over the year.

A measure of the entirety spending in the economy of the domestic final demand has increased  up to 0.4 per cent within the quarter and up to 0.9 per cent over the year.

The household final consumption’s implicit price deflator, a key measure of inflation, was up to 0.7 per cent within the quarter of September, from an increase of 0.5 per cent in the preceding quarter, and was up to 2.5 per cent over the year.

In chain volume measures of Farm Gross Domestic Product, it fell to 2.3 per cent in the quarter of September up to 6.3 per cent in the 12 months to September.

Structured Data, Review
Title: The Economy of Australia Official Figures
Reviewed by Alma May on Dec 4
Rating: 5.0
Summary: Australia’s economy increased within the September quarter.
Description: Just recently, according to the Gross Domestic Product (GDP) in seasonally adjusted terms, the Australian Bureau of Statistics (ABS) said that for the 12 months to September was 2.3 per cent growth.