Well it is good to see that despite beating the market expectations, the growth in the economy slowed down for the fourth consecutive quarter now. Last quarter, the Gross Domestic Product (GDP) had grown by 1.9%. In terms of trade rose 7% this quarter to its highest level in history. The quarterly rise in the terms of trade was driven by strong export prices for mining commodities.With the rise in the spending, household saving in the country declined. The household saving to income ratio declined from 11.6% to 9.7%. According to the latest data released by the Australian Bureau of Statistics, 277,674 businesses or 12% of all the active businesses shut up shops.On the other hand, 365,480 new businesses – or 15.8% of total businesses also joined the trade which is also a good news to hear.
- Forums
- ASX - General
- News: Australia's economy slowed in Q2 ahead of lockdown downturn
Well it is good to see that despite beating the market...
Featured News
Featured News
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online