Analysts at ANZ note that after the release of key partial indicators of Australian economy this week, they are expecting a growth in GDP of 0.5% q/q in Q2, which would see annual growth edge down to 1.4% which would be the slowest pace since the GST.

• “This is a slightly better outcome than we thought last week. The main new pieces of information since our preliminary forecast last week are stronger government spending, net exports and profits, which more than offset the weakness in inventories.”