Huge fail for policy makers in Australia with dreadful economic growth data for the first quarter of 2019.
Data post is here:
Bit more here:
OK, check these out:
- slowest rate in more than 5 years
- economic growth per person dropped for the 3rd quarter in a row - the first time this has happened since 1982
- growth rate has halved since June quarter just last year. 50% down in 6 months!
- domestic demand grew by only 0.1%
- consumer spending annual growth is at its slowest since the middle of 2013
- private demand -0.2% q/q
- public demand +1.1% q/q (huge government spending)
A couple of bright spots
- terms of trade improving
- exports up
AUD did, and is doing, very little. Taking a peek above 0.7
