After a sluggish start to the year, GDP growth rebounded in the June quarter and the labour market continues to tighten.

Conditions continue their strong run, bolstering business confidence.

Revisions to real GDP growth forecasts this month largely reflect a stronger than expected rebound in coal exports following disruptions from Cyclone Debbie in Q1. Further out, we have not fundamentally changed the tone of our outlook.

Following a slow start to the year, GDP growth looks to have accelerated in the June quarter.

Encouraging signs emerging, but long-term headwinds keep RBA on the sideline.

Business conditions hit another multi-year high, with most industries performing well. Stronger trading conditions (sales) and profitability drove the improvement, while employment conditions were steady.

Strong focus on the implications of the beginning of normalisation of rates by the Bank of Canada.

The NAB Monthly Business Survey was a little softer in May, but still points to a healthy business sector. Business conditions are elevated and confidence is holding up above long-run average levels.

Business versus households – how will the situation resolve itself?

After a slow start to the year, early indications for June quarter GDP are pointing to an acceleration in growth.

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