Australia & New Zealand Data Response New Zealand GDP (Q4) The economy failed to regain any momentum at the end 2017 with the production measure of GDP rising by a fairly subdued 0.6% q/q in the fourth quarter, as it did in the third. Looking ahead, we expect... 14th March 2018 · 1 min read
Australia & New Zealand Data Response Australia Consumer Confidence (Mar.) While the modest rise in the Westpac measure of consumer confidence in March was a welcome sight following January’s weaker than expected retail sales figures, we remain cautious about the outlook for... 14th March 2018 · 1 min read
Australia & New Zealand Data Response International Trade (Jan.) The rebound in the trade balance from a deficit of $1.14bn in December to a surplus of $1.06bn in January is welcome news, though it may be too early to conclude that net exports will substantially... 8th March 2018 · 1 min read
Australia & New Zealand Data Response Australia GDP (Q4) The most encouraging aspect of the fourth-quarter GDP release was the acceleration in the various measures of income growth. Even so, we suspect that still-subdued income growth and a soft housing... 7th March 2018 · 1 min read
Australia & New Zealand Data Response Australia Retail Sales (Jan.) & GDP Partials (Q4) Today’s data releases suggest that GDP growth was a touch stronger than we had expected in the fourth quarter of last year. That said, the smaller than anticipated rise in retail sales in January... 6th March 2018 · 1 min read
Australia & New Zealand Data Response Australia Private Capital Expenditure Survey (Q4) The private capital expenditure survey for the fourth quarter was a bit weaker than widely expected, but the key point is that investment is no longer the Achilles heel of the economy as firms are... 1st March 2018 · 1 min read
Australia & New Zealand Data Response Australia Wage Price Index (Q4) The rise in wage growth in the fourth quarter may be the first real sign that wages are benefiting from the recent strength of jobs growth. But real wages have been stagnant for two years. And the... 21st February 2018 · 1 min read
Australia & New Zealand Data Response Labour Market (Jan.) The labour market started 2018 just as it ended 2017, with employment continuing to climb at a healthy clip. But the fall in hours worked to a record low will offset some of the boost to household... 15th February 2018 · 1 min read
Australia & New Zealand Data Response New Zealand Labour Market (Q4) The decent rise in employment in the fourth quarter and the fall in the unemployment rate to a decade low may go some way to calming the current fears in the financial markets. And the absence of... 6th February 2018 · 1 min read
Australia & New Zealand Data Response Retail Sales & International Trade (Dec.) The fall in retail sales and the deterioration in the international trade balance in December probably won’t ease the current jitters in the financial markets, but the figures aren’t as bad as they... 6th February 2018 · 1 min read
Australia & New Zealand Data Response Consumer Prices (Q4) It is possible that price pressures are a little stronger than the CPI data for the fourth quarter suggest. But the main message is that inflation is still hovering just below the 2-3% target and it... 31st January 2018 · 1 min read
Australia & New Zealand Data Response New Zealand Consumer Prices (Q4) For all the talk about how the incoming Governor will deal with employment being added to the RBNZ’s mandate, the latest data suggest he may spend most of his time wondering why inflation is so low. 24th January 2018 · 1 min read
Australia & New Zealand Data Response Australia Labour Market (Dec.) The strong rise in employment in December rounded off an exceptional year for the labour market. Jobs growth is unlikely to be as strong this year, but the labour market will still make further... 18th January 2018 · 1 min read
Australia & New Zealand Data Response Australia Consumer Confidence (Jan.) The further rise in the Westpac measure of consumer confidence in January adds to the recent run of encouraging news about the health of the household sector and suggests that the risks to our... 17th January 2018 · 1 min read
Australia & New Zealand Data Response Australia Retail Sales (Nov.) The much stronger than expected surge in retail sales values in November, alongside the decent rise in October, suggests that real consumption growth bounced back in the fourth quarter. It also... 11th January 2018 · 1 min read
Australia & New Zealand Data Response Australia International Trade (Nov.) The further widening in the international trade deficit in November suggests that after making a neutral contribution to GDP growth in the third quarter, the external sector was probably a drag on GDP... 5th January 2018 · 1 min read
