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NAB Economic Commentary: Australian GDP Q2 2024
GDP rose by 0.2% q/q (1.0% y/y) marginally weaker than we expected (and in line with consensus). Consumption was weaker than expected, while the other components were largely in line with the partials – business and dwelling investment made no contribution while net exports and public demand were key supports. Overall, today’s data show that economic growth remains very weak, and a larger adjustment in per capita terms (now having fallen for 6 quarters) continues to be masked by strong population growth. It also shows that the public sector has been an important support with private sector components very weak. ... (full story)
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- Posted: Sep 4, 2024 11:46pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,866
