Australia GDP Sinks 0.3% On Quarter In Q1
Australia’s gross domestic product was down a seasonally adjusted 0.3 percent on quarter in the first three months of 2020, the Australian Bureau of Statistics said on Wednesday.
That was in line with expectations following the 0.5 percent quarterly gain in the three months prior.
On a yearly basis, GDP expanded 1.4 percent – again matching expectations and slowing from 2.2 percent in the previous quarter.
The GDP deflator was up 1.1 percent on quarter after sinking 1.2 percent in the three months prior, while capital spending fell 0.8 percent after sliding 1.0 percent in the previous three months.