National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Australia
Growth rate same period previous year, Quarterly
AUSGDPRQPSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.34
Year-over-Year Change
-62.65%
Date Range
1/1/1961 - 1/1/2025
Summary
This economic trend measures the year-over-year growth rate of real gross domestic product (GDP) in Australia on a quarterly basis. It is a key indicator of the overall health and momentum of the Australian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The growth rate same period previous year, Quarterly trend represents the percent change in real GDP in Australia compared to the same quarter of the previous year. This provides important context on the pace of economic expansion or contraction over time, helping analysts and policymakers assess the broader business cycle.
Methodology
The data is calculated based on quarterly GDP figures reported by the Australian Bureau of Statistics.
Historical Context
This GDP growth rate is closely monitored by the Reserve Bank of Australia and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- Australia's GDP grew 2.7% year-over-year in Q4 2022.
- The fastest growth rate in the past decade was 5.9% in Q4 2021.
- GDP growth has averaged 2.4% annually over the past 20 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year percent change in real gross domestic product (GDP) in Australia on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a key indicator of the overall health and momentum of the Australian economy, helping analysts and policymakers assess the broader business cycle.
Q: How is this data collected or calculated?
A: The data is calculated based on quarterly GDP figures reported by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: This GDP growth rate is closely monitored by the Reserve Bank of Australia and other economic institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis with a short delay, providing timely insights into the pace of Australia's economic expansion or contraction.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Quarterly (AUSGDPRQPSMEI), retrieved from FRED.