07.09.2016 - The Australian economy grew by 0.5% in the second quarter
Australia's GDP according to the report, which was published today, rose by 0.5% vs. expected 0.6% and 1.0% expansion in the first quarter. During the year, the economy grew by 3.3%, which is better than the 3.1% growth in the previous quarter. Support was the export growth and government contracts. In addition, the price has improved thanks to the housing sector and the growth of corporate profits. It should be noted that the potential growth of the Australian currency remains low and we can see the resumption of the negative dynamics in the coming weeks with a reduction potential to 0,6800-0,7000.