From Macquarie:
Australia’s 3Q16 GDP outcome is likely to surprise in both directions and throw up many questions. We have some answers. Our forecast is for the economy to grow, just, given disappointing outcomes for construction, retail volumes, and business investment.
Annual rebenchmarking revisions add a degree of uncertainty to what the pace of growth will be. But what seems clear from the outset is that the economy has slowed since at least the middle of 2016, and growth will disappoint the estimates underpinning the RBA’s and the Consensus outlook.