This week’s September quarter national accounts release from the Australian Bureau of Statistics (ABS) was mixed.
On the one hand, overall GDP growth was soft at 0.4% for the quarter and slightly negative in per capita terms.
On the other hand, annual GDP growth accelerated to 2.1% through the year, in part owing to upward revisions in previous quarters. This means that annual GDP growth is tracking slightly above the RBA’s expectations.
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