GDP per capita in Australia
Australia - GDP per capita (U.S. Dollars)
GDP growth slows in Q1
The Australian economy slowed down in Q1 2017, after having rebounded at the end of last year. In the first quarter, GDP expanded a seasonally-adjusted 0.3% over the previous quarter, down from the 1.1% expansion registered in Q4 2016. The result was nevertheless slightly above the 0.2% expansion analysts had expected. A year-on-year comparison showed GDP growth improving from 1.9% in Q3 to 2.4% in Q4.
The result was driven by slower private consumption growth. Household consumption expanded 0.5% in Q1 after having grown 1.0% in Q4. Household spending continues to suffer from slow wage growth, coupled with a slow pickup in inflation and increasing mortgage rates. Fixed investment suffered a contraction in Q1, in part due to base effects following Q4’s investment surge but also because of falling housing investment.
On the external front, exports contracted, falling 1.6% in Q1 and contrasting the 3.7% growth registered in Q4. The contraction is here again due to base effects following a surge late last year in LNG exports, which is being curtailed by a stronger dollar and government intervention. Imports slowed down marginally, reflecting the poor state of Australian domestic demand.
The Reserve Bank of Australia (RBA) sees the economy growing between 2.00% and 3.00% in 2017 and between 2.50% and 3.50% in 2018. FocusEconomics Consensus Forecast panelists see the economy expanding 2.5% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects economic growth of 2.8%.
Australia - GDP per capita (USD) Data
|GDP per capita (USD)||66,838||68,108||64,857||61,362||51,363|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.68||1.33 %||Jul 26|
|Exchange Rate||0.79||-0.63 %||Jul 26|
|Stock Market||5,823||0.83 %||Jul 26|
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July 20, 2017
Seasonally-adjusted employment increased by 14,000 jobs in June compared to the previous month, down from the 38,000 new jobs created in May.
July 12, 2017
The Westpac-Melbourne Institute Index of Consumer Sentiment came in at 96.6 in July, up 0.4% from June’s 96.2.
July 11, 2017
The business confidence index produced by the National Australia Bank (NAB) rose to 9 points in June, up from the 8 points registered in May.
July 4, 2017
Nominal retail sales in May expanded 0.6% month-on-month in seasonally adjusted terms, down from the 1.0% increase registered in April.
June 15, 2017
Seasonally-adjusted employment increased by 42,000 jobs in May compared to the previous month, down from the 46,100 new jobs created in April.