Australia's Q1 GDP report showed a decrease of 0.9%, higher than the expected 0.7%, due to net exports. New Zealand's Q1 terms of trade increased by 5.1%, surpassing the forecasted 3.2%, with a 6.3% rise in export volumes and a 1.2% increase in import volumes.
Australia: GDP increased +0.13%qoq in 1Q2024 with annual growth decelerating -45bp to 1.11%yoy... the weakest annual rate in 32 years outside of the pandemic. https://t.co/erDxDYjafg
Australia's economy grew by a slight 0.1% in the first quarter of the year, according to figures from the Australia Bureau of Statistics, the slowest pace since the pandemic ended. https://t.co/JBDUMyr6K2
Australia’s economy extended a streak of subdued growth in the first three months of the year as elevated interest rates and cost of living pressures weighed on household spending https://t.co/KW5gXYeSlA via @economics
Australia GDP growth slows in Q1, dragged down by high inflation https://t.co/n6YuW4QRTO
⚠️ AUSTRALIA ECONOMY SLOWS TO A CRAWL IN Q1, GROWS 0.1% Q/Q Full Story → https://t.co/0nzvnMeK5B https://t.co/KcAGNJIL90
#BREAKING: Australia's economy grew by just 0.1 per cent in the March quarter and 1.1 per cent for the year. https://t.co/bl4YUcYzYM
GDP growth falls to just 0.1% as household cutbacks put handbrake on Australia’s economy https://t.co/FaByMKo1u5
Australia’s economy extended a streak of subdued growth in the first three months of the year as elevated interest rates and cost of living pressures weighed on household spending https://t.co/y1qAIgxnnQ
#BREAKING: Australia’s GDP growth for the March quarter was an anaemic 0.1% It means annual growth has slipped to 1.1%. We remain in a per capita recession as we have been since late 2022. Details @10NewsFirst
AU GDP comes in slightly under expectations, worst annual growth since 1990s recession. Under RBA implied expectations More to come shortly https://t.co/JlXaV8lXwh
AUSTRALIA'S 1Q GDP RISES 1.1% YEAR ON YEAR; EST. +1.2%
New Zealand data: Q1 Terms of trade +5.1% q/q (expected +3.1%) https://t.co/POoZ3Fm9WY
NEW ZEALAND'S TERMS OF TRADE INCREASE BY 5.1% IN 1Q; ESTIMATED RISE WAS 3.2%
NEW ZEALAND SEES 6.3% INCREASE IN EXPORT VOLUMES IN Q1
NEW ZEALAND 1Q IMPORT VOLUMES INCREASE 1.2% QOQ
NEW ZEALAND OVERSEAS TRADE QOQ ACTUAL 5.1% (FORECAST 3.2%, PREVIOUS --7.8%) $MACRO
NEW ZEALAND (1Q) TERMS OF TRADE INDEX (QOQ) ACTUAL: 5.1% VS -7.8% PREVIOUS; EST 3.2%
Australia's GDP decreased by 0.9% in the first quarter due to net exports, higher than the expected 0.7% impact.
AUSTRALIA (Q1) NET EXPORTS OF GDP ACTUAL: -0.9 VS 0.6 PREVIOUS;EST 0.7
AUSTRALIA'S 1Q NET EXPORTS REDUCED GDP BY 0.9 PERCENTAGE POINTS, COMPARED TO THE ESTIMATED 0.7%.
Australia Q1 GDP report due Wednesday, expected to remain very weak https://t.co/Dw5sxpobIg