AUSTRALIA'S GROSS DOMESTIC PRODUCT GROWTH EXPECTED TO TICK UP SLIGHTLY IN Q3
- Australian Gross Domestic Product is foreseen to be up by 1.1% in Q3 compared with the same quarter a year earlier.
- The Reserve Bank of Australia will likely maintain the OCR on hold until later in 2025.
- The Australian Dollar advances against its United States rival, sellers waiting for better levels.
Australia will release Gross Domestic Product (GDP) figures for the third quarter (Q3) on Wednesday. The Australian Bureau of Statistics (ABS) is expected to report that the economy grew 0.4% compared with the previous quarter and 1.1% when compared with Q3 2023r. Annual growth in the second quarter printed at 1%, the slowest pace of growth since the coronavirus-led recession in 2020. The anticipated 1.1% barely surpasses such a mark, and will continue to indicate that the Australian economy has not yet turned the corner.
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