National Accounts

  • Q1 2021

    June 2, 2021

    Australian seasonally adjusted real GDP rose by 1.8% in Q1 2021, somewhat more than the 1.5% expected by market participants.

    In contrast to the previous quarters, the major contribution to GDP growth in Q1 2021 came from investment, propped up among others by spending machinery and equipment ahead of the expected expiration of tax incentives.

    Western Australia saw the largest increase in state final demand of all states.

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  • Q4 2020

    March 3, 2021

    Australian seasonally adjusted real GDP rose by 3.1% in Q4 2020, somewhat more than the 2.5% envisaged by the market consensus.

    The rise in real GDP was again mainly driven by household consumption, reflecting the re-opening of Victoria after the 2020 Melbourne lockdown.

    Western Australia saw a 1.5% increase in state final demand in Q4, to be up 1.2% YoY. With a 0.1% rise in the entirety of 2020, Western Australia was the only state not to record a decline in domestic output over the whole year.

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  • Q3 2020

    December 2, 2019

    Australian seasonally adjusted real GDP rose by 3.3% in Q3 2020, which followed a record 7.0% contraction in Q2.

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  • Q2 2020

    September 2, 2020

    Australian GDP plunged by a seasonally-adjusted 7.0% in Q2 2020.

    This was the sharpest quarterly fall on record (since Q4 1959).

    The drop in GDP was led primarily by a 12.1% plunge in household consumption due to the pandemic.

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  • Q1 2020

    June 3, 2020

    In Q1 2020, Australian GDP fell by 0.3% in seasonally adjusted terms, in line with market expectations. This was the first fall in GDP since 2011.

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  • Q3 2019

    December 4, 2019

    Real GDP rose a seasonally adjusted 0.4% in Q3 following a 0.6% increase in Q2 (revised from +0.5%). Annual growth increased to 1.7% YoY, from 1.6% in Q2.

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  • Real GDP Q2 2019

    September 4, 2019

    Real GDP rose a seasonally adjusted 0.5% in Q2. Annual growth fell to 1.4% YoY, from 1.7% in Q1.

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  • June Quarter 2019

    September 4, 2019

    Real GDP rose a seasonally adjusted 0.5% in Q2. Annual growth fell to 1.4% YoY, from 1.7% in Q1.

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