Australia GDP for Q1 2021 +1.8% q/q ( vs. expected +1.5%)

Australian January – March economic growth data show a solid beat.

1.8 % q/q
1.1 % y/y

AUD marked up above 0.7770 on the release, as I update not by much though.

Q1 household spending +1.2% q/q
household savings ratio 11.6% (down from 22% or so during the pandemic but well higher than the 4 to 6% prevailing prior to the pandemic)
chain price index +3.1%

AUD further update, back under 0.7770

Government stimulus (wage/jobs support, home building grants, capex incentives … and more) all still playing out in supporting economic growth during the first quarter of this calendar year.

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