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AUSTRALIAN ECONOMY TIPPED TO SEE 0.9 PCT GDP GROWTH IN JUNE QTR.
SYDNEY, Sept 2 Asia Pulse - Australia is expected to continue to show economic growth in the June quarter.
A survey of economists by AAP showed gross domestic product (GDP) is tipped to rise 0.9 per cent in the June quarter. The data will be released tomorrow.
This is expected to see annual GDP growth come in at 4.1 per cent.
Consumption will be the main positive for the GDP number, with economists pointing to strong retail and housing data.
"Within that we know that retail spending was pretty strong, business investment is looking pretty healthy ... and dwelling construction is still holding up," Commonwealth Bank chief economist Michael Blythe said.
Westpac economist Justin McCarthy said the domestic economy would remain strong but the overall result would be dragged lower by a 1.3 percentage point detraction to the June quarter result from net exports.
"The interest rate sensitive sectors and the household driving it ... (but) obviously the external sector is going to detract quite a bit," he said.
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