Australia’s net foreign debt approaches $1 trillion (again)

Tuesday, 5 December 2017

The ABS today released its Balance of Payments data for the September quarter, which feeds into tomorrows national accounts release. The key changes are posted below:

According to the ABS, net exports are “expected to make no contribution to growth in the September quarter 2017 volume measure of GDP”. And since consensus was for 0.25% contribution, we should expect downgrades from analysts.

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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.