The story of the economy at the moment is one of give and take – and what’s good for investment is bad for trade
-
Get our breaking news email, free app or daily news podcast
When the Bureau of Statistics released the GDP figures on Wednesday, the June quarter 0.4% growth figure immediately drew headlines of a rate rise to come, but there is little within the GDP figures that suggests an economy needing slowing.
Before the release, the average expectation from banking economists and those throwing a dart at a board was that the economy in June would grow by 0.3%. In the end it grew 0.4% and brought out the suggestions that the growth was “above expectations” and thus in some way hot and in need of cooling off by another interest rate rise.