Australia’s December quarter GDP report will be released later today. While a lagging economic indicator, revealing what happened in the past, it still has significant implications for unemployment, inflation, investment, household incomes and government tax receipts in the future. After booming in the first half of the year, growth slowed sharply in the September quarter, contributing the RBA abandoning its previously held view that the next move in Australia’s cash rate was likely to be up rather than down. At a time when concerns about a negative wealth effect from falling home prices weighing on household ... (full story)