ABS to release quarterly data on Wednesday

ABS to release quarterly data on WednesdayThe Australian Bureau of Statistics (ABS) is scheduled to release the national economic data for the three months till September, 2012 on Wednesday and analysts are expecting a mixed result for the recent quarter.

The economy is expected to have recorded a solid growth in the September quarter but there are serious concerns over the ability to sustain economic growth in the country. Even as there are indications that retail sales might have contracted in the previous month, the total spending on inventories by businesses has increased indicating increased business activity in the three month period.

Recent data also suggest that the measures of income largely remained flat during the quarter. Some expressed concerns that the average prices of exports had fallen during the quarter due to lower prices in the global markets and this might affect the calculation of country's GDP growth for the quarter.

Some predict that the September quarter might have recorded a strong growth rate that may be similar to that of 0.6 per cent real growth recorded in the previous quarter this year. There are concerns over the future of the economic growth that is dependent on factors like the developments in the mining sector and global demand for exports from the country.