Australian Trade Deficit Shocker After Surplus Expected


[b]Weekly Australian consumer sentiment data via ANZ and Roy Morgan
122.0 up last week’s 116.5 – highest it has been since November of 2013
MA (4 weeks) 117.4


Confidence has been trending higher since the low for 2017 in late August. It is encouraging that consumers seemed willing to overlook their high debt burden, moderating house price gains and the impact of higher petrol prices. We think the continued strong growth in employment is the key driver. We’ll find out in February (with the next wages data) whether a pick-up in wage growth has also contributed to the gain in sentiment.”