Australia 2Q GDP weak supply-side seen pushing RBA rate-hike view
HSBC’s Paul Bloxham said Australia’s 2Q GDP shows weak supply-side conditions, with labor productivity falling, keeping the economy under pressure and bringing the RBA closer to raising rates again.
Australia's 2Q GDP contained a twist that will bring the Reserve Bank of Australia closer to raising interest rates again, says Paul Bloxham, chief economist at HSBC, Australia.
The data confirms that the economy still has a very weak supply-side, with labor productivity falling.
GDP per hour worke…