ONLY CHARTS #194
NZ job ads, Aus shipping costs, NZ housing loan demand, China GDP & activity indicators, US Q3 GDP nowcast
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1. The number of newly advertised job ads on SEEK in New Zealand declined 0.5% m/m in September but have been little changed for several months. The ratio of job applications to job ads in August recorded the first decline in 2 years.
2. Australian furniture retailer Nick Scali announced today “materially higher unexpected freight rates“ are hitting profit margins.
This aligns with ongoing increases in container freight rates between China and Australia/NZ (see chart) which had earlier lagged broader measures of freight rates out of China.
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