Q2 GDP data for Australia
+0.2% q/q
- expected is +0.4%
- prior was +0.9% ... which was a strong result, so some 'give back' was expected today
+2.0 % y/y
- expected +2.2%
- prior was 2.5%, revised up from 2.3%
-
Previews are here if u wanna see how wrong I got it:
- Australian Q2 GDP - preview. Is the 0.4% consensus estimate still valid?
- Australian dollar trades below 0.7000 ahead of GDP due today - weak reading coming?
-
So, a 'miss' on expectations ... but Australia still one of the developed world's fastet growing economies ;-)
more to come
-
AUD/USD has dipped below 0.7 on the release, for the second time today ... 0.6988 (or thereabouts) on the spike down ... and as I update 0.7012
