Aussie Q4 GDP beats expectations as households spend up

Wednesday 2 March 2022

The Australian Bureau of Statistics (ABS) has released the country’s national accounts for the December quarter, with real GDP rising 3.4% over the quarter to be 4.2% higher year-on-year:

On a per capita basis, real GDP rose by 3.1% over the quarter to be up 4.0% over the year.

The rise in quarterly GDP was driven by a 6.3% rise in household consumption:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.