ONLY CHARTS #253
Aus NAB survey, NZ payrolls, NZ vehicle registrations, China PMIs
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1. Australian firms reported that business conditions improved a little in December to around average levels. Within that composite measure, profitability also rose to average levels, though forward orders remained below average despite a better outcome.
Aussie retailers reported a sharp improvement in business conditions in December…
…and it wasn’t from putting up their prices at a faster rate.
2. While Australian firms reported an improvement in forward orders in December, the slightly below-average reading is consistent with domestic demand growth remaining moderate in Q4.
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