I posted earlier on
why the expected you’ll read on economic calendars is wrong
Bear that in mind.
Here is an updated
preview (after the new data came in over the earlier two days of this
Economics (kudos to them for being on the ball)
- We think that Australian GDP (00.30 GMT) rose by 0.6% q/q again in the fourth quarter of last year, with faster consumption growth being offset by weaker net exports. That would mean that GDP rose by a fairly subdued 2.3% last year as a whole. We suspect only a modest improvement to 2.5% will be achieved this year.
Also, I posted
yesterday on Westpac’s updated forecasts (ditto):
- Australia Q4 GDP due 7 March — preview taking into account the poor data