Australia Q3 GDP is forecast to have grown 0.7% Q/Q and 6.3% Y/Y – TDS

Analysts at TD Securities (TDS) offer a brief preview of the Australian GDP report, due on Wednesday, and forecast a 0.7% growth during the third quarter.

Key Quotes:

“TD forecasts Q3 GDP to have grown 0.7% q/q and 6.3% y/y. In terms of the breakdown, we are looking at domestic demand to have ticked up 0.9% q/q, for net exports to subtract 0.5ppts and for inventories to add 0.3ppts. We will watch the savings rate as a guide to see how much more buffer households have to spur future consumption with the long term average hovering around 6% vs 8.7% as of June.”