Australia GDP for Q3 3.3% q/q (vs. expected +2.5%)

GDP (sa) 3.3% q/q  for a BEAT

  • expected +2.5%, prior -7.0%
 and -3.8% y/y
  • expected -4.4%, prior -6.3%
A (relatively) subdued bounce out of lockdown, not as substantial as many countries have seen. Australia has lagged with 20 % (approx) of the economy still locked in a shut down for much of that quarter due to the resurgence of COVID-19 cases in Melbourne and Victoria.
Economic growth data for Australia for the July to September 2020 quarter.