Growth was propped up by public sector expenditure, up 1.4%, with Government consumption and public investment both contributing to the Q3 result, the ABS said in a statement.
GDP per hours worked, a measure of productivity which the RBA watches closely, fell 0.5% q/q, from Q2’s 0.8% decline, and was -0.8% y/y. Real unit labour costs, meanwhile, rose 0.5% q/q, down from Q2’s 1.5%.
Household spending us flat over the quarter. “The rebate-driven fall in household electricity spending was offset by growth in other categories,” said Katherine Keenan, head of national accounts at the ABS. “Clothing and footwear rose in response to unseasonably warm weather and essential spending grew moderately with continued growth in rent, health and education services.”
