US consumer confidence slides below expectations, locking in expectations for a Fed rate cut this week. India’s inflation is benign. And New Zealand’s manufacturing sector contracts, but retail sales rise.
In our Deep Dive interview, ANZ Group Chief Economist Richard Yetsenga summarises the likely fallout from Donald Trump’s tariffs.
5 things to know in 5 minutes:
US consumer confidence fell more than expected this month, says ANZ economist Bansi Madhavani.
Bansi says the weak consumer confidence is important for the Fed’s decision due early on Thursday morning Australian time.
India’s annual CPI inflation rate rose to 2.1% in August from 1.6% in July, thanks to higher prices for eggs, meat, fish and oils. ANZ Economist Dhiraj Nim says core inflation outside of those areas is well behaved.
The BusinessNZ-BNZ PMI survey of manufacturers in August found the sector slipped back into contraction, but ANZ Senior Economist Matt Galt saw some good news on closer inspection.
New Zealand’s retail sales via electronic transactions rose 0.4% in August from July.
Cheers,
Bernard.
PS: Catch you tomorrow with a look-ahead to New Zealand GDP data due on Thursday.
