02.03.2016 - Australia's GDP grew by 3.0% in 2015
Today was published important statistics for GDP growth in Australia, which is in the 4th quarter of last year totaled 0.6% vs. expected 0.5% and 1.1% in the third quarter. During the year, the economy expanded by 3.0%. The main reason for the steady growth of the economy was the strong domestic demand, which has managed to offset the negative impact from the reduction of investments in the mining sector and the fall in commodity prices. This fact will support the Australian currency, but cannot compensate the weak data on the trade balance. We forecast a drop in the price of the Australian dollar to 0.6800 and 0.6500 in the medium term.