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2 Mar 2015
Australia Q4 GDP to print a below consensus figure – Westpac
FXStreet (Barcelona) - The Research Team at Westpac previews the Australian data to be released this week, expecting Q4 GDP to come out at 0.6% (consensus forecast 0.7%).
Key Quotes
“Aus Q4 GDP - Mar 4, Last: 0.3%, WBC f/c: 0.6%, Mkt f/c: 0.7%, Range: 0.3% to 0.9%”
“The Australian economy expanded by a forecast 0.6% in Q4, representing an improvement on a 0.3% rise in Q3. Still, annual growth slows to 2.5%, a pace below trend, judged to be around 3% to 3.25%, and the softest result since the end of 2013.”
“Domestic demand is up a forecast 0.3%qtr, following a 0.3% decline in Q3, the first contraction in demand since 2013Q1.”
“The headwind from public demand and business investment is expected to be less intense in Q4, at –0.1ppts, after –0.5ppts in Q3. Dwelling investment advanced in the quarter, following a on-off dip in Q3.”
“Consumer spending is forecast to rise by 0.6%, but the risks are to the upside.”
“Net exports will be a major plus, f/c +0.7ppts, partially offset by inventories, f/c –0.4ppts.”
Key Quotes
“Aus Q4 GDP - Mar 4, Last: 0.3%, WBC f/c: 0.6%, Mkt f/c: 0.7%, Range: 0.3% to 0.9%”
“The Australian economy expanded by a forecast 0.6% in Q4, representing an improvement on a 0.3% rise in Q3. Still, annual growth slows to 2.5%, a pace below trend, judged to be around 3% to 3.25%, and the softest result since the end of 2013.”
“Domestic demand is up a forecast 0.3%qtr, following a 0.3% decline in Q3, the first contraction in demand since 2013Q1.”
“The headwind from public demand and business investment is expected to be less intense in Q4, at –0.1ppts, after –0.5ppts in Q3. Dwelling investment advanced in the quarter, following a on-off dip in Q3.”
“Consumer spending is forecast to rise by 0.6%, but the risks are to the upside.”
“Net exports will be a major plus, f/c +0.7ppts, partially offset by inventories, f/c –0.4ppts.”