Australian economic growth data: Q3 GDP +0.6% q/q (expected +0.7%, prior +0.9%)

<p>Australian Q3 2022 GDP rises less than expected at +0.6% q/q</p><ul><li>expected +0.7%, prior +0.9%</li></ul><p>For the y/y, comes in at 5.9%</p><ul><li>expected 6.3%, prior 3.6%</li><li>the annual rate reflects a very low base back in Q3 2021, the Australian economy contracted then with shutdowns in major cities due to the Delta coronavirus outbreak</li></ul><p>—</p><ul><li>Terms of trade fell 6.6% </li><li>Household saving ratio decreased to 6.9% from 8.3% (now at its lowest since December 2019)</li></ul><p>more to come</p><p>AUD is barely changed. </p>

This article was written by Eamonn Sheridan at forexlive.com.

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