Oddbean

Cliff Notes: nerves show on the outlook ========== September Westpac-MI Consumer Sentiment survey shows a decline of -0.5% to 84.6; sub-indexes for 'one year ahead' and 'five years ahead' down -2.6% and -1.0%; family finances below long-run averages by 16.4pts and 9.7pts; Q2 national accounts indicate consumer weakness spilling into business sector; NAB business conditions index fell -3pts to +3; August marks 11th consecutive negative reading for forward orders; employment index lowest since January 2022; business confidence down 5pts to -4; US CPI rose 0.2% in August, annual CPI at 2.5%; FOMC expected to reduce rates by 25bps at next meeting; European Central Bank cut rates by 25bps; UK average weekly earnings decelerated to 5.1%yr in July; China consumer prices lifted to 0.6%yr in August. #Australia #ConsumerSentiment #EconomicOutlook #BusinessConfidence #Inflation #Fomc #Ecb #UkEconomy #China #Westpac https://www.westpaciq.com.au/economics/2024/09/cliff-notes-13-sep-2024