Analysts at TD Securities expect the data from Australia to show a 0.2% (QoQ) growth in real Gross Domestic Product in the second quarter. We don't fo
Analysts at TD Securities expect the data from Australia to show a 0.2% growth in real Gross Domestic Product in the second quarter."We expect Q2 GDP growth to come in at +0.2% q/q, +1.6% y/y, matching the RBA's Aug SoMPbut below consensus , reflecting subdued growth conditions in the economy. Real retail spending will pose a drag on consumption, likely subtracting 0.1%-pt from quarterly GDP growth while a sharp drop in net exports also poses downside risk to our forecast.
"On the other hand, the jump in housing market activity could translate to a stronger construction pipeline and help to offset the weaker growth over the quarter. As the Q2 GDP growth is released after the RBA Sep meeting, we don't foresee a huge market reaction but a weaker print will strengthen our conviction that theInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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