Q2 2021 GDP data is due at 0130 GMT on Wednesday 1 September 2021
- expected 0.5% q/q, prior 1.8%
- expected 9.2% y/y (huge base effect re the catastrophic Q2 2020), prior 1.1%
Previews:
- Australian GDP data for Q2 - forecasts downgraded after export miss
- Preview - Australia GDP data due today, "manufactured recession" to be confirmed?
Via local media here in Oz,
- AMP Capital's chief economist Shane Oliver said that recent figures on exports, public demand, company profits and wages have been better-than-expected.
- estimating +0.3% q/q
- "So while the current [September] quarter is still expected to show a large 4 per cent decline in GDP thanks to the lockdowns for now at least and assuming there is some reopening driven bounce in the December quarter Australia should be able to avoid the headline of a double dip technical recession."
- "Not that it makes much difference of course for many businesses and workers hit by the lockdowns for whom it would feel like a recession anyway."
And:
- Citi ... "We now expect quarter two GDP growth of 0.5 per cent, thanks to a large upside surprise from the government sector and a smaller drag from net-exports"
