Description
Australia Nominal Gross Domestic Product (GDP) Quarter-on-Quarter (QoQ) Change is released by the Australian Bureau of Statistics (ABS). This indicator measures the quarterly change in the total market value of all final goods and services produced within Australia, not adjusted for inflation. It is used to assess the overall performance and health of the Australian economy. A higher QoQ change suggests a strong and expanding economy, while a lower or negative figure indicates a slowing or contracting economy.
Nominal GDP is calculated by adding up the total market value of all final goods and services produced in Australia during a given quarter, without taking inflation into account. It includes consumption, investment, government spending, and net exports (exports minus imports).
The data is updated quarterly, with results typically released around two months after the end of the quarter being measured.