Net exports are expected to detract 0.2% from Q1 GDP Read this Term
expected -0.6%, prior +1.1%
Current account surplus is AUD Read this Term
expected surplus $15bn, prior +$14.1bn
The ‘public demand’ (investment) component of GDP is expected to contribute +0.2%.
Q1 GDP data is due Wednesday, 7 June 2023 at 11.30am Sydney time, which is 0130 GMT and 9.30pm US Eastern time.
Given the components we have seen so far it appears Q1 GDP will be positive. It all depends on the consumer contribution, we don’t get an advance reading on this.
—
Still ahead for today is the Reserve Bank of Australia statement due at 2.30pm Sydney time
0430 GMT, 0030 US Eastern time
Consensus expectations is for an hold decision but its not a foregone conclusion, this is very much a ‘live’ meeting.
Previews:
And Greg has the AUD techs here:
The RBA rate hike cycle so far:
