Australian Q4 GDP expected to show a weak economy heading into the Q1 turmoil

Author: Eamonn Sheridan | Category: News

A really quickie preview of the GDP due March 4 (Wednesday 0030GMT) 

Q3 was 0.4% q/q and 1.7% y/y, but Q4 is expected to be even slower.

AMP (Australian fund manager) response to the capex data earlier, ICYMI:
Back to AMP (Shane Oliver, Head of Investment Strategy & Chief Economist at AMP Capital)
Aust Dec qtr business investment -2.8% q/q
  • due to a 5.9% fall in building investment which was consistent with the fall in construction
  • Equipment investment was +0.8%
    Mining -2.7%
  • Manufacturing -10.1%
  • other -1.9%
  • Capex will drag on Dec qtr GDP which we currently expect to be just +0.3% q/q

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