Growing Stronger - Recovery continues - Consumer demand and house construction to rise - Boosting domestic manufacturing and imports - Productivity improving after recession demolition - Current account deficit to narrow further

We estimate Q4 GDP increased 0.8% - the first "proper" expansion in the recovery following the bare 0.2% registered for each of Q3 and Q2. This is principally driven by a rebound in manufacturing, forestry and agricultural production, with most other categories posting moderate gains. From the expenditure side, it's mainly a story of improved consumption, residential construction and inventory. Exports probably corrected a bit in Q4 (on timing issues) while business investment remained mixed-to-negative. For the record, the March MPS estimated a 0.6% gain for Q4 GDP.