September 21, 2023

Australia PMI manufacturing 48.2 in Sep-23

- The Australia PMI manufacturing index declined to 48.2 in September 2023, the lowest level since April 2023.
- The contraction in the manufacturing sector indicates a potential slowdown in production and new orders, which may have implications for employment and economic growth.

September 14, 2023

Australia consumer inflation expectations 4.61% y-o-y in Sep-23

- Consumer inflation expectations in Australia for September 2023 decreased to 4.61% year-on-year, the lowest growth since April 2023.
- The current expectations are 0.55 percentage points below the one-year average, indicating subdued inflationary sentiment, but still remain 0.24 percentage points above the long-run average, suggesting a modestly elevated inflationary environment compared to historical trends.

September 14, 2023

Australia unemployment rate 3.69% (consensus 3.7) in Aug-23

- Australia's unemployment rate in August 2023 declined to 3.69%, reaching its lowest level since June 2023, indicating a positive trend in the labor market.
- The employment change figure of 64.86k surpassed expectations, highlighting a substantial increase in job opportunities and contributing to the overall strength of the labor market.

September 06, 2023

Australia GDP growth 0.36% q-o-q (consensus 0.3) in Q2-23

- Australia's GDP grew by 0.36% q-o-q in Q2-23, exceeding the consensus forecast, but marking the lowest growth rate since Q3-21.
- Capital expenditure increased by 2.36% q-o-q, indicating business investment, while consumption growth remained modest at 0.19% q-o-q.