07.06.202301:40:00UTC+00Australia GDP Rises 0.2% In Q2

Australia's gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the first quarter of 2023, the Australian Bureau of Statistics said on Wednesday.

That missed expectations for an increase of 0.8 percent and was down from 0.5 percent in the previous three months.

On an annualized basis, GDP was up 2.3 percent - again missing forecasts for a gain of 2,7 percent, which would have been steady from the three months prior.

Capital expenditure was up 1.8 percent on quarter, exceeding expectations for a decline of 5.6 percent following the 1.4 percent contraction in the previous quarter.

The GDP chain price index was up 1.8 percent on quarter, while final consumption rose 0.2 percent.