Australia's growth outlook

Mining output in Australia continues to increase. Iron ore mining output increased by 5%, which was remained steady in Q2 while other mining inched up by 3% following two consecutive declines. Similarly, coal mining output increased by 4.6% but coal exports are contracted in Q3. Gas extraction & processing also posted a robust growth rate of 11.4%.

The service sector is seemed to be performing well but some sectors are in negative teritoty.  Professional, scientific & technical sectors are declined by 1.2%qtr and annually contracted by 0.4%. Similarly, administration & support services recorded a growth rate of -1.3% quarterly and 0.4% annually.

"The GDP (P) estimate - gross value-added, or GVA - gained 0.9% in the quarter to be 2.6% higher in the year", says Westpac in a research note.