ONLY CHARTS
www.antipodeanmacro.com
1. New house sales in Australia dipped a little in January and fell again in 3-month average terms
2. Roy Morgan’s ‘shadow’ unemployment rate for Australia has fallen in recent months
3. Aussie households report that it is a slightly better time to buy major household items…
4. …but they also continue to say that it’s an undesirable time to buy housing
5. The RBNZ’s survey of forecasters revealed a further decline in 2-year ahead inflation expectations to 2.5% in Q1.
Medium-term measures of inflation expectations also declined.
6. Ready mix concrete production in New Zealand continued to decline sharply in Q4 2023 (-4.9% q/q)
7. Australian firms noted that forward orders remained subdued in January, consistent with ongoing weakness in domestic demand growth
Firms also said that capacity utilisation rose a bit, though the trend has been lower
8. Australian businesses reported a further slowing in employment growth in January, but still-strong growth in labour costs
9. Aussie firms reported still-elevated output price inflation in January
