# The Australian Dollar: Growth Forecasts at Risk of Downgrades on Construction Woes

> Australian construction output fell 3.8% in the second quarter on a seasonally adjusted annualised basis, a fourth straight quarterly contraction and far worse than the 1% decline expected. The Australian dollar weakened after the data, and economists warned that Q2 GDP growth forecasts of 0.6% could be revised lower.

- Date: 2019-08-28 · published 2019-08-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/57835-the-australian-dollar-growth-forecasts-at-risk-of-downgrades-on-construction
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker Aussie dollar and softer Australian growth reduce demand for commodity exports tied to Australian economic activity, and a weaker AUD makes Australian grain and meal exports more competitive on world markets.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/aud/11945-the-australian-dollar-growth-forecasts-at-risk-from-downgrades-on-construction-woes

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.