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Westpac Cut Short-Term GDP Forecast

AUSTRALIA

Late on Monday Westpac noted that "the recent further deterioration in NSW outlook has prompted a cut in our forecasts for national GDP growth in the September quarter from -2.2% to -2.6%; and lowered the forecast 2021 growth rate to 2.4% from 3.2%. The lockdown in NSW is now expected to extend to end October when 80% full vaccination is likely."

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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