Today's GDP figures are likely to be better than expected. 

They're due out mid-morning. 

ANZ economist Finn Robinson told Tim Dower the ANZ bank thinks the economy has contracted by four and half percent. 

He says that's considerably better than the seven percent the bank had initially pencilled in. 

“What we have with that is the preliminary data that is released about how construction and retail trade over the course of the year and it looks like they held up a bit better than expected.” 

LISTEN ABOVE