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
