Australia Gross Domestic Product (YoY) flat at 3.1% in 4Q

Australia's gross domestic product in the last quarter of 2012 came at +0.6% as expected vs an upwardly revised +0.7% in Q3 from +0.5%. On a yearly basis, the growth stood at 3.1%, 0.1 bp above the 3% market had expected, and unchanged from the last reading. Overall, the economic growth was slightly better than economists forecast. Exports were a notable contributor to the solid readings.