Economic wrap - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"US ADP private sector payrolls rose 298k in Feb (vs 187k expected), adding upside risks to Friday’s official payrolls report.

Event Risk:

China CPI and PPI for Feb is released today, the median estimate for CPI being 1.7% yoy.

ECB: At their March meeting, it is likely that President Draghi and the Governing Council will recognise the positive economic developments, but their focus should remain on lingering slack – best represented by soft core inflation (0.9%yr) and high levels of unemployment outside of Germany. There remains a need for continued extraordinary support of the economy."