ONLY CHARTS is available to paid subscribers.
A 7-day free trial is available below. Group discounts are available here.
Antipodean Macro’s in-depth research is available here.
1. The ABS’ household spending indicator, which covers nearly two-thirds of total consumer spending in Australia, rose a strong +0.9% m/m in nominal terms in May. This followed no net growth over March and April.
Average nominal spending in April and May was 0.5% above the March quarter average.
Growth in spending was strongest for discretionary categories which rose +1.1% m/m. This followed two monthly contractions.
2. Our weighted average of the US ISM new orders indices improved in June but remained at a level that historically has been associated with weak growth.
Keep reading with a 7-day free trial
Subscribe to Antipodean Macro to keep reading this post and get 7 days of free access to the full post archives.