Oil prices rise after fresh strikes in the Middle East. Australian job ads show a more resilient labour market. The mood among employers in New Zealand is improving. And inflation in Thailand is hotter than forecast.
In our deep-dive interview, ANZ Senior Economist Matthew Galt reviews how New Zealand’s housing market is tracking.
5 things to know in 5 minutes:
Australia’s ANZ Indeed job ads series found a 2.5% rise in August from July, which was itself up 1.9% from the month earlier. That means job ads have risen 7.8% from a year ago and are 20% above the average since 2010, says ANZ Economist Jasmine Zheng.
Australia’s job ads suggest a robust labour market, but higher interest rates mean that is still likely to ease, says Jasmine.
In New Zealand, ANZ’s Chief Economist Sharon Zollner is also hearing more positive signs from the labour market.
Sharon says better-than-expected construction work figures last week are putting upward pressure on ANZ’s June quarter GDP forecast for New Zealand.
Thailand’s annual consumer price inflation rate rose to 2.53% in August because of higher oil and food prices, says ANZ FX analyst Kausani Basak.
Cheers,
Bernard.
PS: Catch you tomorrow with the latest data on New Zealand’s manufacturing sector in the June quarter, which will feed into GDP figures due next week.
