Economic growth data for Q2 of 2019 hits on 3 September.
Ahead of that is, of course, the RBA announcement, previews:
- Another RBA preview (this time an as consensus on hold call)
- Another forecaster expecting an RBA rate cut today, Tuesday 3 September 2019
- OK, I found two banks forecasting an RBA rate cut today
- RBA seen cutting rates again ... "but not quite yet". And AUD forecast.
- What are markets pricing in ahead of the RBA?
- AUD - RBA meet Tuesday 3 September 2019 on monetary policy - preview
OK, tomorrow's GDP - the partials we got prior to today were not confidence inspiring, to say the least, but today's, especially the exports result, are a bit better.
Westpac have posted a note with what to expect, this in summary:
forecast remains 0.5%qtr, 1.4%
- risks tilted a little to the downside.
arithmetic of our Q2 GDP forecast is
- domestic demand 0.3%
- inventories -0.4ppts
- net exports +0.6ppts.
- Government spending is the key growth driver
- By contrast, private demand is contracting
- Key uncertainties: consumer spending on services and 'other' inventories.
