Trump's inauguration to dominate economic focus as local data dwindles
It’s a quieter time for economic data in Australia but it's shaping up to be one of the busiest on the international calendar.
The inauguration of US President-elect Donald Trump will likely dominate the week as the potential impacts of the new administration on the global economy become a little clearer. Locally, though, the data flow is slowing to a trickle with building activity one of the main releases.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Building Activity, September 2024, Australian Bureau of Statistics
When: Wednesday 22 January 2025
What to expect: Economists will scour the building activity report from the Australian Bureau of Statistics (ABS) on Wednesday. CommSec analysts note that previous data revealed that 2023/24 was the worst financial year for Aussie home building in more than a decade, dropping 8.8% to 158,690 new starts.
Data released on 7 January found improvement in apartment and house approvals in November, with total dwelling approvals down 3.6% month-on-month in the volatile dataset but 7.2% higher over a three-month period. Housing lobbyists have noted that this is off a low base but the trough of the cycle has passed.
