Australia's GDP Expected to Grow Around 0.6% in March Quarter, Westpac Says
MT Newswires Live
Mar 20
Westpac-Now points to quarter-over-quarter gross domestic product (GDP) growth of around 0.6% in the March quarter, lifting year-ended growth to 2.8% year over year, Westpac said in a Friday report.
January data pointed to a slight moderation in underlying growth momentum even before recent external shocks and tighter monetary policy had occurred, per the report.
The bank's indicator heat map shows that labor market, confidence, consumer spending, and global activity indicators lost some momentum.
The lender said its framework suggested that growth will stabilize at around 0.6% quarter over quarter over the June and September quarters.
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