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The Australian Bureau of Statistics will release the June quarter GDP figures this morning with economists predicting only modest growth for the national accounts.
As the AAP puts it: “Australia’s economy is expected to have limped along for the second quarter of the year, with weak growth on the cards.”
Ahead of today’s figures, Commonwealth Bank has revised its GDP outlook down to 0.1% growth for the period.
Belinda Allen, head of Australian economics for the bank, announced: “The key drivers of softer growth in the quarter were a pull-back in data centre investment in the quarter, weaker than expected public demand, and weak travel imports as more Australians stayed home than travelled offshore.
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