ANZ write "looking at Q3 and Q4...........>

AUSTRALIA: ANZ write "looking at Q3 and Q4 together shows that annualised growth

in the second half was 0.9%, a sharp step down from 3.8% in H1, with a notable

softening in the household sector. Q4 growth was also held down by weak exports,

farm output and mining investment, while public spending and non-mining business

investment were the bright spots. The household sector continues to be the key

area of concern for the outlook, with ongoing weakness in household income

growth and falling house prices likely to keep the pressure on the household

spending, and overall GDP growth, in 2019. This will almost certainly see the

RBA revise down its forecast for 2019 in the May Statement of Monetary Policy."