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Australian GDP contracts for first time since 2011

Dec. 07, 2016 2:12 AM ETEWA, IAF, FXA, KROO, AUSE, EWAS, FAUS, CROC, QAUS, HAUD, DBAUBy: Yoel Minkoff, SA News Editor1 Comment
  • Australia's economy shrank for the first time in more than five years in Q3 amid steep falls in business investment, housing construction and public spending.
  • The local dollar slipped 0.5% to $0.7421 against the greenback after the Australian Bureau of Statistics reported that GDP fell 0.5% during the quarter, leaving the year-on year increase at 1.8%.
  • ETFs: FXA, EWA, IAF, AUSE, CROC, KROO, EWAS, FAUS, QAUS, HAUD, DBAU

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