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AUSTRALIA
AUSTRALIA: MNI 5 THINGS. Australia Set To See Strong Q3 GDP Growth
- The market is anticipating Q3 growth to come around 0.6% q/q, and an
annualised rate of 3.3% y/y. In his statement following the Board meeting on
Tuesday, Reserve Bank Governor Philip Lowe said the RBA was expecting economic
growth to "average around 3.5% this year and next" as the economy improves.
Household consumption a focus. The RBA is looking for an increase in consumer
spending to flow through to inflation, but low wages growth has been crimping
household spending. In the June quarter, household final consumption expenditure
increased 0.7%, adding 0.4 percentage points to GDP growth.
- For full story see MNI E-Mail at 11:32 GMT 12/04, or contact us for access.

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