Coming up on Wednesday June 1 at 0130 GMT are the GDP numbers for January – March.
This
snapshot from the ForexLive economic data calendar,
The
times in the left-most column are GMT.
The
numbers in the right-most column are the ‘prior’ (previous month)
result.
The
number in the column next to that, where is a number, is the
consensus median expected.
Via CBA, what they are looking for:
Key Points:
We expect Q1 22 real GDP to increase by 0.5% which would take the annual rate to 2.8%.
Household consumption is anticipated to rise solidly over the quarter.
Public spending and inventories are also forecast to support growth in the quarter.
Net exports will be a significant drag on growth while broadly flat outcomes over the quarter are expected to be posted for residential construction and business investment.
We expect nominal GDP to increase by a large 2.6% over the quarter which would put annual growth at 8.9%.
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As for AUD impact, the GDP numbers not tend to move the currency much at all upon release. Maybe a knee jerk if they confirm a recession (as they did over the COVID period). But this data will not do that! AUD is being moved by global developments, not so much on local data.
