The Australian economy advanced a seasonally adjusted 0.4 percent in the September quarter of 2019, slowing from an upwardly revised 0.6 percent growth in the previous period and missing market expectations of a 0.5 percent expansion. Government spending eased and household consumption expanded at its weakest pace since the global financial crisis. Through the year to the third quarter, the economy grew 1.7 percent, following an upwardly revised 1.6 percent expansion in the June quarter.

GDP Growth Rate in Australia averaged 0.85 percent from 1959 until 2019, 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. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Australian Bureau of Statistics

GDP Growth Rate in Australia is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Australia to stand at 0.90 in 12 months time. In the long-term, the Australia GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.


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Australia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.60 4.40 -2.00 1959 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-06 12:30 AM Q4 0.2% 0.3% 0.3% 0.6%
2019-06-05 01:30 AM Q1 0.4% 0.2% 0.5% 0.5%
2019-09-04 01:30 AM Q2 0.5% 0.5% 0.5% 0.5%
2019-12-04 12:30 AM Q3 0.4% 0.6% 0.5% 0.6%
2020-03-04 12:30 AM Q4 0.4% 0.5%


News Stream
2019-09-04
Australia Q2 GDP Growth Matches Estimates
The Australian economy advanced a seasonally adjusted 0.5 percent in the June quarter of 2019, the same pace as an upwardly revised figure in the previous period and in line with market expectations. Positive contribution from net exports and a faster rise in government spending on the back of a subdued household consumption offset a slump in dwelling investment. Through the year to the second quarter, the economy expanded 1.4 percent, the weakest growth rate since the Global Financial Crisis, after a downwardly revised 1.7 percent expansion in the first quarter of the year.

2019-06-05
Australia Q1 GDP Growth Below Forecasts
The Australian economy advanced a seasonally adjusted 0.4 percent in the first quarter of 2019, accelerating from a 0.2 percent expansion in the previous period but missing market consensus of 0.5 percent. A rise in government spending and a rebound in exports offset a slowdown in household consumption and a decline in fixed investment. Through the year to the first quarter, the economy expanded by 1.8 percent, the weakest growth rate since the Global Financial Crisis, slowing from a 2.3 percent advance in the previous quarter.

2019-03-06
Australia GDP Growth at Over 2-Year Low in Q4
The Australian economy advanced a seasonally adjusted 0.2 percent in the December quarter of 2018, slowing from a 0.3 percent expansion in the previous period and missing market consensus of 0.3 percent. It was the weakest growth rate since the third quarter of 2016 as dwelling investment contracted and private consumption grew only modestly. Through the year to the fourth quarter, the economy expanded 2.3 percent, the slowest pace since the June quarter of 2017, after a downwardly revised 2.7 percent growth in the previous period and below market forecasts of 2.5 percent.


Australia GDP Growth Rate
Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).

Australia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.60 4.40 -2.00 percent [+]
GDP Annual Growth Rate 1.70 1.60 9.00 -3.40 percent [+]
GDP 1432.20 1330.80 1576.20 18.60 USD Billion [+]
GDP Constant Prices 477294.00 475208.00 477294.00 63799.00 AUD Million [+]
Gross National Product 474787.00 470562.00 474787.00 57487.00 AUD Million [+]
Gross Fixed Capital Formation 109237.00 109413.00 119585.00 10212.00 AUD Million [+]
GDP per capita 56919.40 56228.80 56919.40 19245.40 USD [+]
GDP per capita PPP 45439.30 44888.00 45439.30 27969.40 USD [+]
GDP From Agriculture 9841.00 10057.00 12334.00 3879.00 AUD Million [+]
GDP From Construction 33758.00 33604.00 37168.00 8565.00 AUD Million [+]
GDP From Manufacturing 25840.00 25986.00 30744.00 16320.00 AUD Million [+]
GDP From Mining 41963.00 41672.00 41963.00 5545.00 AUD Million [+]
GDP From Public Administration 25206.00 24918.00 25206.00 7996.00 AUD Million [+]
GDP From Utilities 11521.00 11550.00 11693.00 4004.00 AUD Million [+]