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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Despite the fall in NAB May business confidence and conditions, capacity utilisation remained elevated although easing gently. This is consistent with the increase in all of the survey’s price/cost measures except retail prices. Rising cost pressures are going to be something to watch to see if they’re persistent.
- Labour costs rose to 2.2% from 1.9% at the same time that the employment component fell 6.5 points. This component is likely to rise further over the coming months as agreements are negotiated and minimum award wages rise 5.75% on July 1.
- It was not just labour costs that rose for businesses but also purchase costs which were up 2.5% from 2.2% in April and 2% in March. As a result the price of finished products began to edge higher rising 1.3% from 1.1%, and may go further over the coming months. Retail price inflation fell further to 1.3% from 1.5%, as the sector has been the first to be hit by falling demand and is discounting to attract customers.
Australia NAB price/cost measures %
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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