GDP remains weak but upward revisions provide some hope

The second quarter GDP data released this morning was slightly weaker than expectations, although upward revisions to past quarters saw the year-on-year number actually somewhat better than had been hoped for.  Seasonally adjusted GDP rose 0.4% q/q for a year-on-year increase of 1.7% (up from 1.6% in the previous quarter). …read more

GDP slows as expected; +1.4% y/y

The second quarter GDP data released today shows q/q growth of 0.5% (seasonally adjusted) or 1.4% for the year (down from a revised 1.7% the previous quarter. This result is broadly in-line with market expectations and comes on the back of continued weak household consumption (which sees household savings fall …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

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

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

Actual CAPEX undershoots, but plans look slightly stronger

Today’s release of private sector actual, and expected, CAPEX shows a somewhat mixed picture. Actual CAPEX for the third quarter was below market expectations at $31.4 bn which is 9.2% below the second quarter number and a full 20.0% below where it was at the same time a year ago. …read more

Q2 GDP disappoints

After the surprisingly strong first quarter GDP data (see here), today sees the release of some disappointing data for the second quarter. Real GDP was up by just 0.2% for the quarter and 2.0% annually (against expectations of +0.4% and +2.2%). As we noted yesterday upon the release of the …read more

Weak CAPEX data, but slightly better than last time

Today’s release of the CAPEX data for the second quarter shows private capital expenditure still falling (down 4.0% from the previous quarter and down 10.5% from this time last year) but at a marginally slower rate than in Q1. The main point of interest in the data however is the …read more

GDP surprises on the upside. QLD returns to growth

The first quarter GDP data released this morning has surprised the market coming in at +0.9% (exp +0.7%) for an annual rate of +2.3% (exp +2.1%). As a result the A$ took a short rally higher; although that now appears to have rather run out of steam. Stronger growth came …read more

CAPEX falls further as QLD gets smashed by the mining investment slowdown

Today’s release of Capital Expenditure (CAPEX) data for the first quarter of 2015 has come in weaker than expected as buildings and structures investment fell faster than forecast. The seasonally adjusted chain volume measure shows CAPEX was down 4.4% in Q1 from the previous quarter and fell 5.3% from a …read more

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