Gross Domestic Product (YoY)

The Australian Bureau of Statistics (ABS) releases the Gross Domestic Product (GDP) on a quarterly basis. It is published about 65 days after the quarter ends. The indicator is closely watched, as it paints an important picture for the economy. A strong labor market, rising wages and rising private capital expenditure data are critical for the country’s improved economic performance, which in turn impacts the Reserve Bank of Australia’s (RBA) monetary policy decision and the Australian dollar. Actual figures beating estimates is considered AUD bullish, as it could prompt the RBA to tighten its monetary policy.

Most recent - Wednesday 6 March 2024 00:30

Previous
2.1%
Revised
-
Forecast
1.4%
Actual
1.5%

Higher numbers than forecast tend to be bullish for AUD/xxx pairs and bearish for xxx/AUD pairs.

Next event - Wednesday 5 June 2024 01:30

Previous
1.5%
Forecast
-
Actual
-

The typical/expected impact on AUD pairs is medium.

There is no forecast value for Gross Domestic Product (YoY) yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Gross Domestic Product (YoY) was 1.5% against a forecast of 1.4%.

Past events

Date
Forecast
Actual
Wednesday 6 March 2024 00:30
1.4%
1.5%
Wednesday 6 December 2023 00:30
1.8%
2.1%
Wednesday 6 September 2023 01:30
1.7%
2.1%
Wednesday 7 June 2023 01:30
2.4%
2.3%
Wednesday 1 March 2023 00:30
2.7%
2.7%
Wednesday 7 December 2022 00:30
6.3%
5.9%
Wednesday 7 September 2022 01:30
3.5%
3.6%
Wednesday 1 June 2022 01:30
3%
3.3%
Wednesday 2 March 2022 00:30
3.7%
4.2%
Wednesday 1 December 2021 00:30
3%
3.9%
Wednesday 1 September 2021 01:30
9.2%
9.6%
Wednesday 2 June 2021 01:30
0.6%
1.1%

Economic context

Recent economic data has been strongly bearish for AUD. Other recent announcements which may affect the market's interpretation of the next Gross Domestic Product (YoY) result:

PreviousLatest
Employment Change s.a.Bearish change117.6K-6.6K
Full-Time EmploymentBearish change79.4K27.9K
National Australia Bank's Business Confidence (QoQ)Bullish change-6-2
Participation RateBearish change66.7%66.6%
Part-Time EmploymentBearish change38.2K-34.5K
Unemployment Rate s.a.Bearish change3.7%3.8%
Consumer Inflation ExpectationsBullish change4.3%4.6%
Westpac Consumer ConfidenceBearish change-1.8%-2.4%

About Gross Domestic Product (YoY)

Country:Australia
Currency:AUD
Source:Australian Bureau of Statistics
Category:Economic Activity
Frequency:Quarterly

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