Advertisement
From Bloomberg TV comes HSBC’s chief economist, Paul Bloxham’s, take on today’s March quarter GDP result, in which he sees signs of economic rebalancing.
It’s an interesting take, given that domestic demand contracted by 0.3% over the quarter, with annual domestic demand growth slowing to just 1.1% – the weakest outcome since 2009. Consumer spending disapointed (+0.6%) and total dwelling activity was flat.
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement