Australia's Q4 GDP growth likely to have improved to 0.6% q/q: Standard Chartered

Quotes from Standard Chartered:

-The Australian Bureau of Statistics will release Q4-2014 GDP data on 4 March. We expect growth to have picked up mildly to 0.6% q/q from 0.3% in Q3, although it likely slowed to 2.5% y/y, below trend growth. The contribution of net exports was likely lower than in Q3 as commodity exports - particularly iron ore and coal - fell amid falling prices and lower demand.

-Household consumption was probably also subdued, as indicated by muted consumption even during the holiday season; its share of GDP likely fell slightly. We expect residential investment to have moderated in Q4, but to have remained at a high level.

-Overall investment was likely unchanged from Q3. Our GDP tracker for Australia is in line with our forecast and suggests that Q4 growth was likely below the average of the past three years.