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The ABS has dumped a whole bunch of partial data which paints a mixed picture for March quarter GDP, which will be released tomorrow.
On the negative side, inventories declined by 1.2%, versus an increase of 0.3% last quarter. This should detract 0.4% to 0.5% from GDP:
On the positive side, the ABS expects a positive contribution of 0.5% from net exports:
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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.