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Barclays write "we are downgrading our....>

AUSTRALIA
AUSTRALIA: Barclays write "we are downgrading our Q4 18 GDP growth forecast to
0.4% q/q sa (2.6% on y/y terms) (Bloomberg consensus: 0.5%, Barclays earlier
forecast 0.7%), after today's release of inventories and profits data. Although
inventories are now likely to subtract slightly from Q4 GDP growth, where
previously we had factored in a small addition in our forecast. Ongoing growth
in wages and salaries likely will support consumption, but we think the overall
the momentum in GDP growth is likely to remain broadly similar to trends seen in
Q3 18."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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