More responses to Australian GDP data

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ANZ:

• Non-mining recovery remains very patchy
• International environment deteriorating
• Means the risks to the cash rate remain tilted to the downside

Deutsche Bank:

• Australian economy in a low productivity, low GDP growth, weak wages growth trap
• Australia needs more than monetary policy response to escape
• Monetary policy outlook  - "today's GDP data as having no impact on our view that the RBA is on hold for some time"

More here:

• Westpac on the 'key surprise' in today's poor GDP data from Australia
• GDP responses ... "AUD to fall into low 60s"
• Australian Q2 GDP growth - driven by government spending, household consumption 
• Australia Q2 GDP: 0.2 % q/q (vs. expected +0.4%)