2017.02.2819:49:00UTC+00Australia GDP Climbed 1.1% On Quarter In Q4

Australia's gross domestic product climbed a seasonally adjusted 1.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday.

That exceeded forecasts for an increase of 0.8 percent following the 0.5 percent contraction in the third quarter.

Household final consumption expenditure contributed 0.5 percentage points and public capital formation contributed 0.3 percentage points to growth.

On a yearly basis, GDP advanced 2.4 percent - again beating forecasts for 2.0 percent and up from 1.8 percent in the three months prior.