Oh dear, data on economic growth for Australia in the April to June quarter of 2019. Weak but at least its got a plus in front of it!

+0.5% q/q

  • expected 0.5%, prior 0.5%, revised up from 0.4%

+1.4% y/y , weakest since 1991

  • expected 1.4%, prior 1.8%

Details in very brief:

Private sector very weak

  • construction
  • retail and wholesale trade are all detracting from growth

Public spending and net exports are positives

Population growth also a positive contributor

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Background: