Westpac look ahead to the Australian GDP data due mid-week, see upside risk

A snippet from WPAC on the economic growth data due for Q2 in Australia on Wednesday

• September 1 at 0130GMT

WPAC:

• in summary, despite the downside on inventories, the sales, wage income and profits figures tend to suggest if anything that the risks to our Q2 GDP forecast of 0.5% may be tilted to the upside (not the downside).

As you can see the bank have a 0.5% growth forecast, and acknowledge the risk is to the topside for this. They note still to come, tomorrow 31 August 2021:

• there is additional information – on net exports and government demand