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VIEW: ANZ write "quarterly GDP growth.....>

AUSTRALIA
AUSTRALIA: VIEW: ANZ write "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. Growth
continues to be held down by a weak household sector, although business
investment and exports are hardly strong. The public sector is certainly doing
its bit to support growth, contributing 1.3ppt to the 1.8% growth over the past
year. 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
results."
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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