Australia: Economic growth lost momentum in 2022 – UOB – by pabspiovano Australia GDP Inflation CPI Banks
Economist at UOB Group Lee Sue Ann comments on the latest GDP and inflation results in Australia.“The Australian economy grew 0.5% q/q in 4Q22, below expectations of 0.8% q/q, and below the revised 0.7% q/q print in 3Q22. From a year earlier, the economy expanded by 2.7% y/y, within expectations, but much lower from 3Q22’s reading of 5.9% y/y.
“Meanwhile, monthly CPI rose 7.4% y/y in Jan, down from 8.4% y/y in Dec. The latest reading, however, is the second highest annual increase since the start of the monthly CPI indicator series in Sep 2018, signifying ongoing high inflation. That said, inflation seems to have peaked in 4Q22, in line with our view.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Student-loan forgiveness: There is no 'backup plan,' says Biden official. 'We have one plan, it's the plan that we've announced.'A day after the U.S. Supreme Court heard oral arguments on the Biden administration’s plan to forgive student loans, a White House official talked about the administration’s plan in case the high court strikes it down.
Read more »
EUR/USD has embarked on a consolidation range – UOBUOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang suggested EUR/USD is now likely to trade within the 1.0530-1.0670 range in the
Read more »
GBP/USD now seen within 1.1970-1.2160 – UOBGBP/USD is now expected to navigate between 1.1970 and 1.2160 in the next few weeks, note UOB Group’s Economist Lee Sue Ann and Market Strategist Quek
Read more »
AUD/USD: Outlook remains weak for the time being – UOBIn the opinion of UOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang, AUD/USD risks further pullbacks in the short term. Key Quote
Read more »
USD/JPY: Extra gains look likely above 136.90 – UOBFurther upside in USD/JPY should remain on the cards while above the 136.90 level according to UOB Group’s Economist Lee Sue Ann and Market Strategist
Read more »
USD/CNH: Further uptrend depends on a break above 7.0000 – UOBOnce USD/CNH clears the 7.0000 level it should be able to extend the upside momentum in the next few weeks, comment UOB Group’s Economist Lee Sue Ann
Read more »