Most wouldn’t dwell too long on manufacturing and wholesale data – here’s a reason people should.
But it looks as though the economy will be tested before the forecast figure is achieved.
Westpac senior economist Michael Gordon discusses his reasoning for picking GDP to rebound to 3% on NBR Radio and on demand via MyNBR Radio.
The slowdown the Reserve Bank and other forecasters were anticipating even six weeks ago now appears to be much more gentle than previous turns in the economic cycle.
The forecast big dry this summer is unlikely to hit the economy as badly as previous, similar weather did.
Westpac economist Michael Gordon talks about a drought-driven downturn on NBR Radio and on demand on MyNBR Radio.