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Following the release of final partial Aussie GDP indicators today we expect Q4 GDP growth to have been ~1% q/q but for domestic final demand growth to have been a bit slower than that. The RBA had pencilled in around +0.8% q/q for GDP growth in the February SMP.
1. Underlying public demand (ex asset transfers) in Australia rose more than +0.9% q/q in Q4, contributing a little less than +0.3ppts to quarterly GDP growth. Growth in both Q2 and Q3 was revised up a little.
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