Australian GDP Hotspot map

Damien Klassen

Nucleus Wealth

Every quarter I like to look at the changes in Australian GDP and which categories are responsible for the growth / decline. Each bubble represents a category of GDP proportionate to its size, colours represent the growth rate.

Click the charts for a large version and commentary:

Click for large version

This quarter the key takeaways include:

  • Federal Government spending (+11% for non-defence, 7% for defence over the year) the only thing keeping GDP above zero.
  • Investment growth was not good, but I was expecting worse. Possibly there are green shoots, but capex surveys and investment forward indicators suggest there is still more downside.
  • State & Local government spending has turned negative – with a low number of property transactions this is likely to remain a feature

Click for large version

........
The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Damien Klassen is an authorised representative of Nucleus Wealth Management, a Corporate Authorised Representative of Nucleus Advice Pty Ltd - AFSL 515796.

Damien Klassen
Head of Investment
Nucleus Wealth

Damien runs asset allocation and global stock portfolios for Nucleus Super, Nucleus Ethical and Nucleus Wealth. His 25 year+ career includes Global Quant at Schroders, Strategy at Wilson HTM & co-founder of Aegis.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.