【环球财经】澳大利亚第三季度GDP环比增幅降至0.4%

Core Insights - Australia's GDP grew by 0.4% quarter-on-quarter and 2.1% year-on-year in Q3 2025, marking the 16th consecutive quarter of growth, although the quarterly growth was below market expectations and lower than Q2's 0.7% [1][2] - The growth was primarily driven by domestic final demand, with private investment increasing by 2.9% and household consumption rising by 0.5% [1][2] Economic Performance - Government spending increased by 3% in Q3, while household consumption rose by 0.5% and private sector investment grew by 2.9% [1] - Public sector investment also saw a 3% increase [1] Trade Dynamics - Net trade negatively impacted GDP growth by 0.1 percentage points, as export growth of 1% was offset by import growth of 1.5% [2] - Commodity exports rose by 1.3%, driven by non-farm products, with coal exports recovering from previous shipping delays [2] - Service exports remained flat, primarily due to a 0.6% decline in travel services, influenced by reduced overseas student spending [2] Import Trends - Total imports increased by 2.1%, with intermediate goods imports rising by 4.2% and capital goods imports growing by 6.7%, reflecting increased investment in electronic and communication equipment [2] - Service imports decreased by 0.2%, attributed to fewer Australians traveling with foreign airlines [2] Household Financial Health - Household savings rate increased from 6% in Q2 to 6.4% in Q3, with total disposable income growing by 1.7%, outpacing nominal household spending growth of 1.4% [3] - Strong growth in disposable income was supported by increased employee compensation and robust performance in the domestic stock market, leading to higher pension investment returns [3]