This data series has been lacklustre for a good while

Trend is your friend, right? Another disappointing one.

+0.1% m/m (seasonally adjusted headline result)

  • expected 0.2%, prior -0.1%
  • y/y at +2.4%

ABS also provide trend estimate

  • +0.2% in May m/m
  • +2.7% y/y

AUD barely moved. Up a few tics.

Meanwhile there were also data on job vacancies:

  • down 1.1% (seasonally-adjusted) for their first decline in 3 years

--

Background on this: