A sharp decline in the number of Australians travelling overseas and a large fall in imports of consumer goods like toys, clothes, cars and appliances may have prevented the economy from contracting in December.
Net exports will add a stronger-than-expected 0.6 of a percentage point to December quarter GDP growth, while government inventory investment will add another 0.4 of a percentage point, the Australian Bureau of Statistics said on Tuesday.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
