The latest horrible Australian data is here:
A summary of the comments from Westpac on the report:
- All components of the Index recorded declines in December
- The Index has fallen 6.1% since the RBA started cutting the cash rate in June
Let those two snippets sink in for a moment. Ugh.
More:
- There was also high recall of news on 'economic conditions' … News in this area was assessed as the most unfavourable in four years.
- Other topics with high recall included 'budget and taxation' … and employment … the news in both of these areas also assessed as relatively unfavourable.
AUD is, of course, barely changed. This data point tends not to have much of an immediate impact (as flagged earlier here). It all goes into the mix though.
