Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Australia's GDP grew by 0.2% in the fourth quarter, at least for 5 quarters


March, 06 2024
watermark Economic news

According to the Australian Bureau of Statistics, in the fourth quarter of 2023, the Australian economy showed minimal growth over the past five quarters, amounting to 0.2% compared to the previous period July-September.


At the same time, the estimate of GDP growth in the third quarter was revised upward to 0.3% from the previous 0.2%.


The consensus forecast of experts assumed an increase of 0.3% in the fourth quarter, as in October-December.


Despite the slowdown in growth, the Australian economy has maintained a positive trend, showing growth for nine consecutive quarters.


Consumer spending in the fourth quarter increased by 0.1% (in July-September it decreased by 0.2%). The savings rate of the population increased for the first time in nine quarters, reaching 3.2% compared with a revised 1.9% a quarter earlier.


Government spending growth slowed to 0.6% from the previous 1.5%. Business investments decreased by 0.2% in October-December after an increase of 1.5% in the third quarter.


The volume of Australian exports decreased by 0.3% in the fourth quarter, while imports decreased by 3.4%.


On an annualized basis, Australia's GDP increased by 1.5% in the fourth quarter compared to the same period a year earlier. In the third quarter, this figure was 2.1%, as previously reported.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.