Central bank scrutiny, business data, housing schemes: the week ahead in macro
It's going to be a short week in Canberra but by no means a quiet one as debate heats up on housing policy and several RBA officials take the stage.
While there are public holidays across many states on Monday, it’s set to be a bumper week of central bank meetings, minutes and public speeches. And with AGM season kicking off and Parliament sitting, there’s plenty for economists and market watchers to keep an eye on.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Building activity, June, Australian Bureau of Statistics
When: Wednesday 9 October 2024
The data: Monthly business turnover, August, Australian Bureau of Statistics
When: Friday 11 October 2024
What to expect: Business turnover lifted 1% in July’s figures following two months of declines. On a year-to-year comparison, all industries experienced higher turnover except mining (down 1.2%). Between June and July, retail trade experienced a decline, alongside accommodation and food services, electricity, gas and water, and information media and telecommunications. In August, retail sales surprised economists to the upside amid a bump in spending so the performance of this sector will be a focus.
More to watch: Business and consumer confidence indexes are due out early in the week from NAB and Westpac-Melbourne Institute. Economists largely expect these two indexes to have slowed markedly. The Melbourne Institute’s inflation gauge for September is also due on Monday. ANZ-Indeed job advertisements will be another point of focus when they’re released on Tuesday.
