Lack lustre GDP growth continues; QLD benefits from revisions

Today’s release from the ABS of the 4th quarter 2017 GDP data confirms the lack lustre performance of the Australian economy. Growth in the quarter (seasonally adjusted) was in line with market expectations at +0.4%, although upward revisions to back quarters saw the year-on-year rate slightly beat expectations at +2.4% …read more

Queensland Gross State Product; growth eases as households slow down

The release by Queensland Treasury of the State Accounts for the third quarter of 2017 appear to have slipped largely under the radar.  While the ABS produce Gross State Product (GSP) data only on an annual basis for the June quarter, the QLD Treasury produce quarterly estimates. We have previously seen …read more

GDP growth disappoints as households tighten purse strings

The GDP data for the 3rd quarter of 2017 has come in slightly below market expectations at +0.6% q/q (after Q2 was revised slightly higher to +0.9% from +0.8%) for a 2.8% y/y and 2.2% annual growth. The weaker data was due to a poor showing from household consumption (the …read more

GDP +0.8% q/q and +1.8% y/y. Queensland doing much better

The GDP data for the second quarter has shown a solid rebound from the weak data last quarter and is broadly in line with market expectations. On a seasonally adjusted basis GDP rose 0.8% for the quarter, or 1.8% from the same time a year ago. This brings the cumulative …read more

Exports lead as QLD economy grows 3.9% y/y, 2.5% ann

Today saw the release by the Queensland Treasury of their estimates for Gross State Product for the first quarter of 2017. The ABS produce state Final Demand data on a quarterly basis (although this ignores net exports) but Gross State Product numbers only annually at the end of each financial …read more

QLD Budget downgrades growth forecasts. Is Debbie to blame?

Today’s QLD Budget 2017-18 has downgraded growth forecasts across the forward years and is, to an extent and quite openly, laying the blame at the feet of TC Debbie for the slowdown. The Budget papers say “Queensland growth forecasts for 2016-17 and 2017-18 would have been higher, but for the impact …read more

GDP slows (as expected) while QLD grinds to a halt

The ABS have released the GDP data for the first quarter of 2017. After a strong Q4 last year (unrevised at +1.1% q/q) Q1 is up just 0.3% q/q, +1.7% y/y and +2.3% annualised. This is result is in line with market expectations, although stronger than some had been expecting; …read more

Treasury data shows QLD economy recovery picking up

The QLD Treasury data for State Accounts for the final quarter of 2016 shows the economy picking up nicely. Whilst the ABS only produce Gross State Product data on an annual (financial year) basis, the Treasury produce their own quarterly estimates. These show GSP rose by 0.9% q/q after the …read more

Queensland State Accounts show good growth; but it’s slowing

Friday saw the (rather delayed) release of the September quarter Queensland State Accounts from Treasury, and they appear to have slipped under the radar somewhat. While the ABS produce Gross State Product (GSP) data only on an annual basis for the June quarter, the QLD Treasury produce quarterly estimates. We …read more

Recession avoided (again) as GDP jumps

As expected, the Australian economy once again avoided a technical recession (two consecutive quarters of negative GDP) with a better-than-expected increase GDP of 1.1% for the 4th quarter of 2016. This took year on year growth to 2.4% (up from an upwardly revised +1.9% in Q3) for an annual growth …read more

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