Australia: Q2 economic growth likely remained soft – NAB

Analysts at National Australia Bank suggest that the Australia’s economic growth likely remained soft in Q2 2019, with GDP rising by 0.5% q/q.

Key Quotes

“While growth is slightly stronger than in the March quarter, boosted by a sharp lift in net exports, private sector growth likely contracted again, with consumption still soft, dwelling investment falling further and a marginal drag from business investment.”

“A weak outcome would likely trigger a further downgrade to the RBA’s outlook, notwithstanding support from income tax refunds, cash rate cuts, a lower exchange rate and a stabilising housing market.”

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