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Australian GDP grew by 0.8%

Wednesday, Sep 06 2017
Australian GDP grew by 0.8%

Gross Domestic Product rose by 0.8% on the quarter, and 1.8% on the year. This matched market forecasts but, in the wake of some strong construction and export data for the same period, investors may have dared to hope for more. If so, they were out of luck. Still, the outcome is better than the first quarter’s respective gains of 0.3% and 1.7% andis arguably not too bad given Hurricane Debbie’s baleful impact on economic activity.

However, as the pair pushes back towards its highs for 2017, which are also peaks not seen since 2015, the possible reaction of the Reserve Bank of Australia will be key. The RBA is not comfortable with the Aussie’s altitude which it sees as threatening both domestic growth and its own inflation-target mandate.

More in this category: « US Factory Orders in line with market expectations German Factory Orders fell by 0.7% »

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