ONLY CHARTS #343
NZ average mortgage rates, Aus NAB survey, Aus consumer confidence, China trade & CPI, Canada labour market
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1. The weighted-average interest rate on outstanding mortgages in New Zealand declined another 9bps to 5.91% in April, taking the cumulative fall to nearly 50bps since the peak. More is coming.
2. Australian businesses reported the weakest business conditions since 2014 in May (excluding the pandemic period).
“Business conditions” are a composite measure of firms’ reported trading conditions, employment and profitability. Weaker profitability has dragged business conditions lower in recent months (see below).
The NAB survey was taken from 26-30 May.
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