This is not an AUD mover on release but is useful as a guide for how the Australian economy is evolving

Prior revised to +0.02% from +0.01% (you can crack open the bubbly now)

Westpac comments on the result in brief:

  • six month annualised growth rate (an indication of economic activity relative to trend three to nine months out) fell from 0.5% in July to -0.02% in August
  • The growth rate in the Index has been volatile through 2018
  • but appears to be signalling a slowing in growth momentum as we move through the second half of 2018 and into 2019
  • Over the six months from March to August the growth rate in the Index slowed from +0.7% to -0.02%.

Westpac does not change it RBA view … on hold through 2018, 2019 and 2020

I posted a small amount of background on it earlier here (just one line)