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Australia GDP (Q2) Preview 2/9/2020 0130GMT

AUSTRALIA DATA
MNI (Singapore)
  • The Australia economy is projected to fall 6.0% q/q (Rtrs consensus) in the June quarter, 2020, down from the 0.3% q/q decline in Q1.
  • On a yearly basis, Australia GDP expected to drop 5.3% in Q2, much lower than the 1.4% y/y growth registered in Q1.
  • Contributions to GDP are worth noting - the impact of the pandemic from trade as well as household consumption will show a greater influence in the June quarter.
  • Household saving ratio is likely to rise.

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