This week's Australian economic data suggest that the domestic economy may be slowing

Last days featured two important releases for Australians - Gross Domestic Product and inflation. Thanks to Matthew Weller (FOREX.com) we're sharing an insightful view on both indicators.

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Matthew Weller (FOREX.com): This week's Australian economic data suggest that the domestic economy may be slowing, with GDP slowing to 0.5% in Q4 and inflation falling to a year-over-year rate of 7.4%. Notably the RBA sees inflation falling all the way to 4.8% by the end of the year, while a recent survey of Bloomberg economists see it coming in closer to 5.4% by year end.

However, just as the domestic Australian economy appears to be downshifting, its largest trading partner may be coming back online in earnest.

Matthew Weller (FOREX.com): China's Composite February PMI surged to 56.4, a new post-COVID high, suggesting that the Australian economy may still remain resilient as China emerges from its "zero COVID" policy.

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