The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

  • FBI warns Coloradans of cryptocurrency scams

  • Biden Cracks Down on Chinese Tech Investment

  • Why General Motors Shares Climbed in January

  • UW Complements State’s Investment With Controlled Environment Agriculture Center | News

Australian Economy
Home›Australian Economy›Australian Q1 GDP beats expectations

Australian Q1 GDP beats expectations

By Megan
June 1, 2022
49
0
Share:

The ABS has released its Q1 national accounts, with GDP rising 0.8% over the quarter – beating analyst’s expectations of a 0.7% rise.

Annual GDP growth slowed to 3.3%, down from 4.6% over the prior quarter.

Below are the key changes across components:

Domestic final demand (mostly household consumption) drove the growth in GDP in Q1, with net trade detracting from growth:

Domestic final demand contributed 1.6 percentage points to GDP growth. Household final consumption expenditure contributed 0.8 percentage points. Government consumption contributed 0.6 percentage points, driven by increased health expenditure. The government’s response to the floods in NSW and QLD also contributed to the rise.

Net trade detracted 1.7 percentage points, driven by the strongest rise in imports since December quarter 2009. The increase in imports reflected the arrival of delayed shipments and inventory rebuilding by businesses closer to pre-pandemic levels. Changes in inventories contributed 1.0 percentage point and partly offset the detraction from imports.

I’ll be back later with my usual detailed report.

Unconventional Economist

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

Unconventional Economist
Latest posts by Unconventional Economist (see all)

YOU MAY ALSO BE INTERESTED IN

Source link

Previous Article

Insider Buying: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director ...

Next Article

Australian economy grows 0.8% but Treasurer Jim ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Australian Economy

    Economic diplomacy: Time for transparency on aid reform

    October 6, 2022
    By Megan
  • Australian Economy

    Let foreign workers stay permanently to solve labour shortage

    January 9, 2023
    By Megan
  • Australian Economy

    Tax treatment of digital assets and transactions

    November 4, 2022
    By Megan
  • Australian Economy

    As India Australia trade pact kicks off today, Modi calls it a watershed moment

    December 29, 2022
    By Megan
  • Australian Economy

    South Korea GDP, central bank, currencies, oil

    July 25, 2022
    By Megan
  • Australian Economy

    Rate hike likely; iron ore miners soar; Australia’s economic resilience

    December 5, 2022
    By Megan

Leave a reply Cancel reply

You may interested

  • Investment

    Top 10 Investment Themes For 2023

  • Brokers

    EgyptAlum selects Premier Securities Brokerage to conduct fair value study of company’s shares

  • Gold and Precious Metals

    2 Hawaii teen surfers recount journey to gold on world stage

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • February 2, 2023

    Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

  • February 2, 2023

    FBI warns Coloradans of cryptocurrency scams

  • February 2, 2023

    Biden Cracks Down on Chinese Tech Investment

  • February 2, 2023

    Why General Motors Shares Climbed in January

  • February 2, 2023

    UW Complements State’s Investment With Controlled Environment Agriculture Center | News

Best Reviews

Latest News

Gold and Precious Metals

Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

Adil Abdrakhmanov/iStock via Getty Images Introduction If Covid has proven anything, it is the failure of the Keynesian approach to economic policy. Debt accumulation appears the only constant over the ...
  • FBI warns Coloradans of cryptocurrency scams

    By Megan
    February 2, 2023
  • Biden Cracks Down on Chinese Tech Investment

    By Megan
    February 2, 2023
  • Why General Motors Shares Climbed in January

    By Megan
    February 2, 2023
  • UW Complements State’s Investment With Controlled Environment Agriculture Center | News

    By Megan
    February 2, 2023
  • Recent

  • Popular

  • Comments

  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    By Megan
    February 2, 2023
  • FBI warns Coloradans of cryptocurrency scams

    By Megan
    February 2, 2023
  • Biden Cracks Down on Chinese Tech Investment

    By Megan
    February 2, 2023
  • Why General Motors Shares Climbed in January

    By Megan
    February 2, 2023
  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    By Megan
    February 2, 2023
  • Australia’s economy: boom or bust?

    By Megan
    September 9, 2019
  • Australian economy suffers virus symptoms

    By Megan
    February 10, 2020
  • Australian economy likely already slowing in Q2 before Delta downturn

    By Megan
    August 30, 2021

Trending News

  • Gold and Precious Metals

    Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    Adil Abdrakhmanov/iStock via Getty Images Introduction If Covid has proven anything, it is the failure of the Keynesian approach to economic policy. Debt accumulation appears the only constant over the ...
  • Investment

    FBI warns Coloradans of cryptocurrency scams

    Coloradans have been scammed out of millions of dollars, the FBI said. DENVER — The FBI’s Denver office is warning the public of a rise in people falling victim to ...
  • Investment

    Biden Cracks Down on Chinese Tech Investment

    The United States and China have spent several years and tens of billions of dollars investing in each other’s technology sectors. Now, after months of escalating moves targeting semiconductors, social ...
  • Stock Shares

    Why General Motors Shares Climbed in January

    What happened Auto stocks were under pressure for much of 2022 on fears that a slowing economy and rising interest rates would eat into demand for autos. A combination of ...
  • Investment

    UW Complements State’s Investment With Controlled Environment Agriculture Center | News

    February 2, 2023 In this photo taken in February 2012, Nate Storey examines lettuce growing in his startup company’s patented vertical towers inside a UW greenhouse. Today, he is the ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.