National Accounts

  • 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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  • March Quarter 2019

    June 5, 2019

    Real GDP rose a seasonally adjusted 0.4% in Q1 2019 following an unrevised 0.2% increase in Q4 2018. Annual growth fell to 1.8% YoY, from 2.4% in Q4.

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