GDP y/y +3.6%
- expected 3.5%, prior 3.3%
- this is ‘real’ GDP, nominal was +4.1% q/q and 12.1% y/y
GDP q/q 0.9%
- expected 1.0%, prior 0.8%
Chain Price Index, an indicator of inflation is +4.3%
- prior + 4.9%
Q2 is April, May and June. The RBA began its interest rate hiking cycle in May and hiked again in June. Continued rate hikes in July, August and September might have more of an impact (not a positive one) on economic growth in Q3.