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Australia – 2Q GDP
02/09/2015 02:37 pm MYT
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Australia’s GDP experienced the slowest growth in four years in 2Q 2015. In seasonally adjusted volume terms, the economy expanded by 0.2%, quarter-on-quarter, and 2.0%, year-on-year. On the expenditure side, the GDP growth was driven by an increase in final consumption expenditure. However, the rise was partially offset by decreases in net exports and inventories– see table 1. From the production side, financial, transport and health services were the main contributors to growth, while the mining and construction sectors were the main detractors to growth.

The GDP performance in 2Q 2015 was worrying. Given moderate global economic growth and slumping commodity prices, the Australian economy is expected to continue growing below the long-term trend for some time. i Capital forecasts Australia’s real GDP growth to be in the range of 1.5% - 3.3% in 2015. The forecasts for 3Q 2015 and 4Q 2015’s year-on-year growth rates are between 0.7% - 3.0% and 0.4% - 3.0% respectively.

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Note from Publisher
Despite being a multi-racial, multi-cultural, and multi-religious society, Malaysia has largely been a peaceful country. This is a great achievement in light of a world that is being ravaged by multiple conflicts. Unfortunately, certain individuals and groups have hated this precious social fabric of the country and are making every effort to tear it apart. People say “you never know what you have until you lose it”. We really hope these selfish and irresponsible people will come to their senses before it is too late.

Nevertheless, it is heartening to see that the Malaysian media and civil society organisations have collectively launched a campaign called “Maaf Zahir Batin Hari Hari” or known as #MZB365 to help heal a dividing Malaysia. Carrying the meaning of “please forgive my wrongs, both thoughts and deeds”, the campaign will run for one whole year. This initiative could not have come at a better time. We believe the majority of Malaysians still treasure the country’s unique social fabric. With #MZB365, hopefully the silent majority can have a bigger voice to counter the destructive noises of the divisive minority.
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