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Australian National Accounts: National Income, Expenditure and Product, June 2023
Key statistics: • The Australian economy rose 0.4% in seasonally adjusted chain volume measures • GDP rose 3.4% in 2022-23 • The terms of trade fell 7.9% • Household saving ratio decreased to 3.2% from 3.6% table Gross Domestic Product (GDP) rose 0.4%, the seventh consecutive rise. Exports and investment were the primary contributors to GDP growth this quarter, partly offset by changes in inventories. The Australian economy grew by 3.4% in 2022-23, above the 10-year pre-pandemic average of 2.6%. The growth reflected a strong recovery in demand following the COVID-19 Delta-variant lockdowns in September ... (full story)