Australia's Q2 GDP Growth Has Come In Right On Target, Driving The Dollar To A 2-Week High

Australia’s Q2 GDP figures have come in right on target, growing 0.6% in the June quarter and 2.6% year on year.

GDP grew 0.6% last quarter, and 2.5% year-on-year.

Q2 growth was driven by a 0.2% increase in household consumption and 0.2% from changes in inventories.

The industries that drove growth in the June quarter were finance, mining, and construction. The finance industry contributed 0.2% while the other industries each contributed 0.1% to the increase in GDP.

The AUD jumped 40 pips to a 2-week high of $US0.9082 on the release.

There’s more on the ABS; stay tuned to Business Insider Australia for our analysis.

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