Previewing the Expected Subdued Growth in Australian GDP Data for Q4 2023
Tuesday, 5 March 2024, 22:17
Australian GDP Data Release Overview:
The Q4 2023 Australian GDP data release is anticipated to show subdued growth, with forecasts indicating a modest increase of +0.2% q/q. This would result in a lower annual growth rate of 1.4%, down from 2.1% in the previous year.
Key Forecasts and Trends:
- Positive Factors: Sectors like business investment and exports are expected to contribute positively to economic growth.
- Negative Factors: Residential construction is forecasted to experience a sharp decline, impacting overall growth.
Despite certain favorable data points, the Australian economy is facing challenges such as weak domestic demand and the effects of the per capita recession.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.