- Analytics
- News and Tools
- Market News
- Westpac cut forecast for Australian GDP
Westpac cut forecast for Australian GDP
Westpac lowered the forecast of GDP for Australia in the third quarter to -0.2% and in annual terms to 2.1% (from 3.3% in the second quarter). Chief Economist Andrew Hanlan said that the 0.2% decrease in the third quarter due to net exports.
Domestic demand in the third quarter decreased by 0.4%, this is due to decreased activity of the construction of homes and business investment. The bank expects a small increase in private consumption of 0.5%, after rising 0.4% in the second quarter.
NAB and Morgan Stanley also predicted negative growth in the third quarter. The NAB said that Australia's GDP in the first quarter 2017 is projected at -0.2%, but there is some risk that the GDP for the third quarter could be up to 0.5%.
JP Morgan forecast Australian GDP unchanged in the third quarter. ANZ forecast Australian GDP in the 3rd quarter at -0.1%. CBA forecast Australian GDP for the 3rd quarter at + 0.1%.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
