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Forex Flash: GDP forecasts subject to downside risk post-AU BOGS data - NAB

By FXstreet.com,  January 07, 2013, 10:39:00 PM EDT

FXstreet.com (San Francisco) - An Australian statistics bureau reported Tuesday that the Oz trade balance deteriorated in November to a deficit of $2.637bn. "Where does this leave us?" asks Rob Henderson, Chief Economist at National Australia Bank in a research note. "First, there has been a significant deterioration in the trade balance in the first two months of the December quarter, suggesting our expectation of a +0.1 percentage points contribution to Q4 GDP is at risk. This means our 0.3% (weak) GDP forecast is subject to downside risk."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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