Australian GDP expands 0.2% QoQ in Q4 vs. 0.3% expected

Australia’s Gross Domestic Product (GDP) grew 0.2% in the fourth quarter of 2023 compared with the 0.3% growth in Q3, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.3%.

The annual fourth-quarter GDP expanded by 1.5%, compared with the 2.1% growth in Q3 while beating estimates of a 1.4% increase.