The GDP drop has sparked concern among experts, and it's prompted many to update their economic outlook.

GDP's fallen 0.9 percent in the June quarter - much further than the Reserve Bank and all economists had been expecting.

Westpac Chief Economist Kelly Eckhold says Q3 indicators are already looking better, but the bank's upgraded their October OCR call.

"We upgraded our October call from a 25 point cut to a 50 point cut...the GDP number was quite a bit weaker than everybody's predictions."

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