Analysts are upgrading their forecasts for the January - March GDP data from Australia on Wednesday 6 June 2018
- (due at 0130GMT)
Last week I was noting expectations around 0.8% q/q, but these are now being shifted higher after solid data on inventories and the OK data today (net exports improved from Q4, government spending a support)
But, yeah , the but …. this from Westpac is worth noting for the outlook (bolding mine):
- More generally, we note that the national accounts data is somewhat dated and that some recent developments have been less favourable - eg jobs growth has slowed, the housing market has slowed further with house prices pulling back from their highs, and commodity prices have eased a little. Key headwinds remain, notably, weak wages growth is constraining the consumer and the housing sector is cooling as lending conditions tighten.
So, for tomorrow - its all good. But no so much necessarily for Q2 ….
AUD giving back some of its weekly (so far) gain:
