Australian GDP +0.4% vs +0.8% exp

• Q3 GDP revised to +0.8% from +1.0% prior.
• GDP +2.3% y/y vs +2.4% expected.
• Consumption expenditure +0.7%
• Public consumption +0.6% after a 7.7% decline in Q3
• Fixed capital expenditure -1.1%
• AUD sinks to a low of 1.0520 from 1.0566

Consumption, inventories and net exports each added 0.3 percentage points to GDP while private gross fixed capital formation was the largest drag at 0.4 pp.