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Weekly Economic Update

Monday:

RBA Deputy Governor speech – RBA Deputy Governor Andrew Hauser to deliver a speech.

Tuesday:

Wage Price Index (Q2), Westpac/MI consumer sentiment (Aug), NAB business survey (July) – Key data releases including wage growth, consumer sentiment, and business conditions.

Thursday:

Unemployment/ employment (July) CBA household spending intentions – Latest figures on employment and unemployment rates.

Friday:

RBA Governor appearance at House of Reps committee hearing – RBA Governor to testify before House of Representatives Economics Committee.

Wages and jobs are the main focus of the local data feed this week. The Wage Price Index (Q2) is expected to show a further moderation in wage growth, dropping below 4% from an annual pace of 4.2% six months ago.

Labour force figures suggest a strong jobs market, but there are signs of momentum loss. The CBA predicts around 20,000 new jobs in July, with a potential uptick in unemployment to 4.2%.

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Stay informed with the latest consumer sentiment and business conditions surveys releasing on Tuesday. Consumer sentiment is pessimistic, while business conditions remain cautious.

The week concludes with RBA speeches by Deputy Governor Andrew Hauser and Governor Michele Bullock, providing insights following the week’s data releases.

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