02 Maret 2016 8:33 AM
Australia's gross domestic product advanced a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2015, the Australian Bureau of Statistics said on Wednesday.
That beat forecasts for an increase of 0.4 percent, and slowed from the upwardly revised 1.1 percent gain in the third quarter (originally 0.9 percent).
On a yearly basis, GDP jumped 3.0 percent - also topping expectations for 2.5 percent and up from the upwardly revised 2.7 percent increase in the three months prior (originally 2.5 percent).
The major contribution to economic growth in Q4 came from household final consumption expenditure, which contributed 0.4 percentage points, and public gross fixed capital formation, which contributed 0.2 percentage points to GDP growth.
The growth in household final consumption expenditure is reflected in growth in the service industries of Information, media and telecommunications (2.7 percent), retail trade (1.0 percent), and arts and recreation services (2.2 percent).
These positive contributions were offset by a fall in private gross fixed capital formation of 1.9 percent, driven by falls in new engineering construction - which detracted 0.6 percentage points from GDP growth.
Exports and Imports both rose 0.6 percent in seasonally adjusted chain volume terms.
The material has been provided by InstaForex Company - www.instaforex.com
