Yesterday’s GDP result was enough to burn the shorters of the Aussie dollar and most likely take an October rate cut off the table. But look deeper into the numbers and it’s clear danger lurks, according to one commentator. Indeed growth, or lack thereof, has the commentariat warning of an unpleasant economic honeymoon for leader-in-waiting Tony Abbott and a need for the Reserve Bank to maintain an easing bias.
Fairfax’s Malcolm Maiden pinpoints the warning signs littered through the national accounts. If the country was a business and the Labor government was the board, it would be facing disgruntled shareholders.