• Q3 GDP comes in at +0.5% qoq and +3.1% yoy
    Q2 (the previous result) was +0.6% qoq (and +3.7% yoy)
  • Expectations for Q3 were at +0.6% qoq ( +3.1% yoy)
  • Q2 was unrevised, remains at +0.6%
  • Household Spending in Q3 was up 0.3% vs Q2

Early mkt chatter is that this result at +0.6% puts the RBA on hold now until at least Q2 2013 … but keep watching for some sort of growth in investment outside the mining sector. This is what the RBA is watching to see, if it doesn’t happen then the pressure rises for further cuts.