- Analytics
- News and Tools
- Market News
- Australia's GDP growth too low for comfort - ANZ
Australia's GDP growth too low for comfort - ANZ
Felicity Emmett, an analyst at ANZ, notes that Australia’s quarterly GDP growth picked up a little in Q1 to 0.4% q/q, although annual growth continued to slow and is now down to 1.8%, its slowest pace since 2009 in the midst of the global financial crisis.
- “The weak tone to GDP confirms the dovish stance taken by RBA Governor, Phil Lowe, but the Bank is likely to be disappointed yet again by these data. The result looks to be less than the average 0.6-0.7% q/q growth the RBA had expected for Q1 and Q2. And unless Q2 partials pick up strongly it suggests that another round of growth downgrades in the Bank’s August Statement on Monetary Policy.
- The report shows that weakness in the economy has become more broadly based, and the supports to growth more narrow.
- Overall GDP growth continues to be held down by a weak household sector, under pressure from persistently low-income growth, high debt and falling house prices.
- Ultimately, the Q1 GDP data provide further confirmation that the economy likely needs more stimulus to generate stronger growth, lower unemployment and higher inflation.”
© 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
