Westpac says the construction work data earlier leave their their GDP forecast unchanged.
- decline in overall construction work early in 2020 continues the downward trend since mid-2018, coinciding with the peak in home building activity
- has been a material headwind for growth over this period
- our view around Q1 GDP growth unchanged - currently forecasting a decline of 0.7%.
The bank also note coming tomorrow is CAPEX data tomorrow which will provide further information
- and more partial indicators for GDP next week
- With Q1 GDP on Wednesday June 3
