03.09.2014 - Australia's GDP grew by 0.5%
Today we have published data on the growth of Australia's GDP. Thus, the rate in the second quarter increased by 0.5%, which is 0.1% better than the expectations of experts. It is worth noting that GDP growth in the first quarter was 1.1%. The main risk to the economy is the slowing growth in China, which is a major importer of Australian products, decline in investment in the mining complex.
Head of the Reserve Bank of Australia said today about the negative impact of rising unemployment and maintaining a policy of stable interest rates. Tomorrow the course of trading will be affected by the data on the trade balance and retail sales in Australia. Dynamics of the Australian dollar will also depend on the statistics on the labor market in the United States. We maintain a medium-term negative outlook for the Australian dollar.