AUD: GDP rose by 0.6% in Q4 – RBC CM

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, notes that the Australian GDP rose by 0.6% in Q4 (consensus 0.4%), with upward revisions to previous quarters taking the y/y rate to 3.0% from 2.7%.

    Key Quotes

    “Activity in the quarter was driven by household consumption (+0.8%), inventories (+0.2ppc), and public expenditure (+6%). However, our economists note that more timely data—business conditions and confidence, capex plans, wages, and employment—have lost momentum recently and coupled with a tightening in financial conditions will keep pressure on the RBA to ease further. They retain two 25bp rate cuts in their forecast for 2016.”
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