Australia GDP for Q4 2020
GDP +3.1% q/q vs. expected 2.5%, prior +3.4%, revised from +3.3%
GDP -1.1% y/y vs. expected -1.9%, prior -3.8%
A beat for the ancient history data. The emergence from lockdown has prompted one of the biggest (if not the biggest) q/q GDP growth rates ever.
The 'household spending' measure rose 4.3%, while Household spending on services rose 5.2%
- given there were still ongoing restrictions, closed borders, and what have you this is a huge result and may well be a sign of what is to come as vaccinations roll out (not just in Australia but globally)
