Business
Import surge triggers GDP upgrades, but debt hits $1.17trn – The Australian Financial Review
A jump in imports in the December quarter points to better consumption and business investment.
JPMorgan, Citi, Commonwealth Bank and RBC Capital Markets all upgraded their December quarter GDP forecasts on Tuesday after the release of the import data.
Capital Economics Ben Udy said the strong consumer import data and stronger public investment data released on Tuesday meant he would upgrade his December quarter GDP expectations.
The big unknown is still household consumption, for which weve pencilled in a 4 per cent rise as we think the rebound in services consumption will have been even…
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