Westpac Banking Corporation recently pointed to a GDP growth of around 0.4 per cent quarter on quarter (QoQ) in Q1 2026 in Australia, well below its second estimate of 0.6 per cent QoQ and the 0.8-per cent QoQ outcome recorded in Q4 2025.
Its central projection has year-ended growth slowing to 1.6 per cent year on year in Q2 2026, below the central bank’s expectation of 1.9 per cent YoY.