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27 Feb 2013
Forex Flash: Australia domestic building seeds of growth could be germinating - NAB
With Aussie currently at 1.0226 USD bouncing from session lows at 1.0205, and Q4 Construction work done in Australia coming at -0.1% lower than +1.5% expected and +1.9% previous, Senior Economist Markets at NAB David de Garis notes that “Details hint that domestic building seeds of growth could be germinating,” David said, adding: “domestic building activity rose, offsetting a pull-back this quarter in engineering construction.”
“Construction therefore not adding to Q4 GDP growth overall,” he reckons, though.
“Construction therefore not adding to Q4 GDP growth overall,” he reckons, though.