CBA Group expects Australian GDP Q1 at 1.1% after today's Aus data dump

Following today's impressive Australian fundamental data dump, which revealed net exports for Q1 will contribute 1.1% to Aus GDP vs 0.7% expected, coupled with April building approvals being also better than expected, CBA Group is now expecting that the Australian economy will post a GDP of 1.1% in the March quarter and 3.2% over the year. As a reminder, Australia's GDP is released on Wednesday at 1.30GMT.