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The ABS says that it was 2.1% in nominal terms, so I guess that is after "seasonal adjustments".
It can't be after taking inflation into account, as inflation during that time was 2.1%, which would mean zero growth.
So in real terms GDP fell.
Given that the previous quarter the inflation was 1.3% and GDP growth was 0.6% for the quarter, that was a contraction in real term.
It is interesting to note that the ABS said that on a percapita basis, GDP actually fell 0.2% in the quater just ended, after managing a mere 0.1% per capita in December.
Are we in a technical recession?
[ATTACH=full]157904[/ATTACH]from ABC News

As as aside, I just don't understand why it effectively takes over two months to get these figures out.
These figures are for the and of March quarter, here we are in June just getting them.
They really become of mere histroical interest, and other things have overtaken them, and I wonder if P Lowe had these figures available to him yesterday, would the RBA have raised rates?
We are poorly served by so many government institutions, its a wonder why they exist at all.
Mick

<blockquote data-quote="mullokintyre" data-source="post: 1230492" data-attributes="member: 82018">The ABS says that it was 2.1% in nominal terms, so I guess that is after&nbsp; &quot;seasonal adjustments&quot;.It can&#039;t be after taking inflation into account,&nbsp; as inflation during that time was 2.1%,&nbsp; which would mean zero growth.So in real terms GDP fell.Given that the&nbsp; previous quarter the inflation was 1.3% and GDP growth was&nbsp; 0.6% for the quarter,&nbsp; that was a contraction in real term.It is interesting to note that the ABS said that on a percapita basis, GDP actually fell 0.2% in the quater just ended, after managing a mere 0.1% per capita in December.Are we in a technical recession?[ATTACH=full]157904[/ATTACH]from <a href="https://www.abc.net.au/news/2023-06-07/gdp-march-quarter-0-2-per-cent-australia/102444792" target="_blank">ABC News</a>As as aside, I&nbsp; just don&#039;t understand why it effectively takes over two months to get these figures out.These figures are for the and of March quarter, here we are in June just getting them.They really become of mere histroical interest, and other things have overtaken them, and I wonder if P Lowe had these figures available to him yesterday, would the RBA have raised rates?We are poorly served by so many government institutions, its a wonder why they exist at all.Mick</blockquote>

[QUOTE="mullokintyre, post: 1230492, member: 82018"] The ABS says that it was 2.1% in nominal terms, so I guess that is after "seasonal adjustments". It can't be after taking inflation into account, as inflation during that time was 2.1%, which would mean zero growth. So in real terms GDP fell. Given that the previous quarter the inflation was 1.3% and GDP growth was 0.6% for the quarter, that was a contraction in real term. It is interesting to note that the ABS said that on a percapita basis, GDP actually fell 0.2% in the quater just ended, after managing a mere 0.1% per capita in December. Are we in a technical recession? [ATTACH type="full" alt="1686106709450.png"]157904[/ATTACH]from [URL='https://www.abc.net.au/news/2023-06-07/gdp-march-quarter-0-2-per-cent-australia/102444792']ABC News[/URL] As as aside, I just don't understand why it effectively takes over two months to get these figures out. These figures are for the and of March quarter, here we are in June just getting them. They really become of mere histroical interest, and other things have overtaken them, and I wonder if P Lowe had these figures available to him yesterday, would the RBA have raised rates? We are poorly served by so many government institutions, its a wonder why they exist at all. Mick [/QUOTE]

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