Economic growth data from Australia for the April to June quarter of 2018
0.9 % q/q a solid size beat
- expected 0.7% q/q, prior 1.0%
3.4% y/y (revisions lifting the yearly rate of growth into respectable territory indeed … best since Sep Q of 2012)
- expected 2.9% q/q, prior 3.1%
This is a solid result. There will be notes that it is 'old' data, and it is, we are now nwell past half way into the 3rd quarter. Still, as I was saying earlier in the week it is an indication of resilience in the Australian economy. Sure, we know have fresh worries that may weigh but I reckon it might bumble along through those as it did through the Q2 worries.
y/y at 3.4% That is solid indeed. Estimates are potential growth is around 2.8%, so at 3.4% this will be taking chunks out of spare capacity and could push inflation pressures higher (something the RBA will like)
AUD jumps
