ONLY CHARTS #161

Aus Q2 GDP

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1. Australia’s GDP rose +0.2% q/q and +1.0% y/y in Q2. Excluding the pandemic, this is the weakest year-ended growth in the Australian economy since Q4 1991.

Private demand was unchanged in Q2 and just +0.8% y/y higher.

Measures of Australia’s national income fell in Q2 amid a lower terms of trade, and have been broadly unchanged for 2 years.

2. Per capita real GDP contracted 0.4% q/q - the sixth consecutive decline - and was down 1.5% y/y, which is the largest fall outside of the pandemic since 1991.