Question

How to Explain todays GDP of Australia

Answer 1

The Australian economy grew a seasonally adjusted 0.3 percent in the September quarter of 2018, slowing sharply from a 0.9 percent expansion in the previous period and missing market consensus of a 0.6 percent advance. This was the weakest pace of expansion since a contraction seen in the third quarter of 2016, mainly due to a sharp slowdown in private consumption and a pull-back in non-residential construction. GDP Growth Rate in Australia averaged 0.85 percent from 1959 until 2018, reaching an all time high of 4.40 percent in the first quarter of 1976 and a record low of -2 percent in the second quarter of 1974.