Australia's GDP figures were released yesterday. They were okay. consumer spending shot up. housing investment is strong, productivity rose however business investment was weak.
Given GDP has been tepid at best for a while because of higher interest rates this is to be expected. We can only hope investment grows as consumer spending gets stronger.
Two things can be gleaned.
- We are past the worst of weak growth figures
- interest rates wil lnot fall as much because of this.
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