Australian Q4 2024 GDP +0.6% q/q (vs. expected +0.5%)

Australian Q4 2024 GDP +0.6% q/q, a beat for this data and the best quarter in two years.

• vs. expected +0.5%, prior +0.3%

and +1.3% y/y

• expected +1.2%, prior +0.8%

The Q4 Chain Price Index, an inflation measure, came in at +1.4%.

All economic data is ‘stale’, but some is more stale than others. This data for economic growth in October, November and December of 2024 is the latter. Still, encouraging as far as it goes. Tax cuts are being cited in the beat.

The news out of China might figure up AUD a little more:

• China’s finance ministry says it’ll step up the pace of fiscal spending
• China says it’ll target 2025 economic growth ‘around 5%’

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