Aussie consumer confidence hit but businesses keep prices up
Ray Attrill talks though the contrast between resilience in Aussie business confidence and the more lacklustre attitude of consumers. How do you square off the two outlooks?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 13th September 2023
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The NAB Business Survey yesterday showed that price growth remained elevated and business conditions rose. NAB’s Ray Attrill says an interesting takeout is the contrast between the resilience showing up in business surveys, against consumer confidence. Even though individual consumer spending is slowing, higher levels of immigration means businesses are still seeing growth and in a position, for now, to pass on costs. It’s a different story n the UK, where wages continue to rise, but markets are lowering their expectations for a hike from the Bank of England this month. Listen in to find out why. And the elephant in the room – the price of oil. Expect to see it reflected in the headline US CPI rate today.
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