Australian data: Net exports to contribute 1% to Q2 GDP (0.9% expected)

Australia, Balance of Payments, Current Account data

Current Account Balance (June quarter 2022) Surplus AUD18.3bn

• expected +AUD22bn
• prior A$7.5bn surplus

Net exports to contribute 1% to Q2 GDP (a huge trade surplus for Australia, surging exports but not so much for imports)

• 0.9% expected
• -1.7% prior

Public demand to add 0.1% to Q2 GDP (made up of public investment at +0.3%, minus 0.2% for spending)