Kagenmi
Weaker GDP growth doesn't guarantee that the Reserve Bank of Australia (RBA) has now finished hiking rates, but it helps.
Clue to the weakness came in trade data
One clue that today's 3Q23 GDP growth
Australia: Q3 2023 GDP Growth Softens
Summary
- Weaker GDP growth in Australia may indicate that the Reserve Bank of Australia (RBA) is done hiking rates.
- Trade data suggests that the GDP growth figure for Q3 2023 will not meet expectations.
- Household consumption has slowed due to RBA rate increases, but non-dwelling construction spending has rebounded.
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