Westpac Economics' Weekly Video Update
![](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbEVIIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--2fc580fea5a7267652967b701e42f71c05b672b3/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/Screen_Shot_2015-05-28_at_4.08.06_pm.png)
Westpac
This week was all about Q2 GDP for Australia. The headline result disappointed at 0.2%, 2.0%yr. Domestic demand was weak in annual terms at 1.2%yr; and private demand even weaker still at 0.9%yr. Some positives remain apparent in services export growth and residential construction; but the twin effects of the end of the mining investment boom and the substantial decline in Australia's terms of trade are having a material impact on the Australian economy. Next week consumer sentiment and the labour market will be front and centre; before then, the all important August nonfarm payrolls result is due out tonight.
2 topics
![Elliot Clarke](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbEVIIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--2fc580fea5a7267652967b701e42f71c05b672b3/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/Screen_Shot_2015-05-28_at_4.08.06_pm.png)
An Economist based in Sydney Australia with a particular interest in macro-financial analysis of the Australian and global economy. Having spent a number of years with the Reserve Bank of Australia and Westpac Economics, monetary policy, the...
Expertise
No areas of expertise
![Elliot Clarke](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbEVIIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--2fc580fea5a7267652967b701e42f71c05b672b3/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/Screen_Shot_2015-05-28_at_4.08.06_pm.png)
An Economist based in Sydney Australia with a particular interest in macro-financial analysis of the Australian and global economy. Having spent a number of years with the Reserve Bank of Australia and Westpac Economics, monetary policy, the...
Expertise
No areas of expertise