The ABS has just released the Government Finance Statistics for the September quarter:
In the September quarter 2012:
- Taxation revenue decreased 16.3% to $92,456m.
- General government sector expenditure exceeded revenue resulting in a GFS net operating balance of –$17,418m.
Taxation revenue is down on the previous quarter but it isn’t clear how much it is down compared to expectations. Total revenue for the quarter was $115,114m – down 15.9% on the previous quarter. Again I’m not sure what expected of forecast revenue was.
All up, combined with yesterdays data I’m expected a rate cut this afternoon (although the shadow RBA recommends otherwise) and not-so-good numbers tomorrow when the national accounts are released.