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Australian Q1 economic growth data – GDP – is due next week. Preview.

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Coming up on Wednesday June 1 at 0130 GMT are the GDP numbers for January – March.



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numbers in the right-most column are the ‘prior’ (previous month)
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number in the column next to that, where is a number, is the
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Australia gdp q1 27 May 2022

Via CBA, what they are looking for:

Ключевые моменты:


  • 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.

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