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Australia 4Q GDP Expands 0.5% Q/Q; Estimate 0.4% Gain


Wednesday, 4 March 2020 07:57 WIB

Ekonomi AustraliaGDP AustraliaPDB Australia


The GDP report is a snapshot of the economy in the rearview mirror, particularly as it covers a period before wildfires engulfed Australia's east coast and the coronavirus forced the shutdown of China.

The Bureau of Statistics released the data in Sydney Wednesday. 4Q GDP grew 2.2% from year earlier; est. 2% gain. 4Q household savings ratio was 3.6%. 4Q household spending rose 0.4% q/q. AUD at 65.95 U.S. cents vs 65.90 cents pre-data.

The RBA cut interest rates a quarter-point Tuesday to a record-low 0.5% as Governor Philip Lowe warned the epidemic was having “a significant effect” on Australia's economy.

Source : Bloomberg


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