Q4 2020

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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