The national accounts for the June quarter are due at 11.30 am (AEST).
Economists expect gross domestic product (GDP) will record a small increase, having downgraded their original expectations after this week's weak business and exports data.
"I think today's figures ... will be a timely reminder that there's still a rocky road ahead, bumps in the road and we're certainly not out of the woods yet in terms of the impact of the global, financial and economic crisis," Senator Sherry told Sky News.
The Reserve Bank has signalled that it will need to lift the cash rate to a "more normal" level at some stage given Australia's overall better than expected performance.
The central bank left the rate unchanged at a 49-low of 3 per cent for a fifth straight month at Tuesday's board meeting, saying it was appropriate "for the time being".
Asked why the Government is not considering winding back its economic stimulus if monetary and fiscal policy are supposed to be working in tandem, Senator Sherry said: "There is no need to.
"The stimulus is obviously having a significant impact in cushioning the Australian economy.
"If we look at a range of economic data that has been released, investment for example, investment was positive, but if you remove the impact of the stimulus, it's negative."
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