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MNI BRIEF: Aussie GDP Grows 1% Y/Y Over Q2

MNI (MELBOURNE) - The Australian economy grew 1.0% y/y over Q2, 10 basis points higher than market and Reserve Bank of Australia expectations, while household spending increased 2.9% y/y, 40bp less than anticipated, the Australian Bureau of Statistics noted within its National Accounts Wednesday.

GDP grew at 0.2% q/q, 10bp higher than the first quarter and in line with expectations. 

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MNI (MELBOURNE) - The Australian economy grew 1.0% y/y over Q2, 10 basis points higher than market and Reserve Bank of Australia expectations, while household spending increased 2.9% y/y, 40bp less than anticipated, the Australian Bureau of Statistics noted within its National Accounts Wednesday.

GDP grew at 0.2% q/q, 10bp higher than the first quarter and in line with expectations. 

Keep reading...Show less