• Clifford Bennett, Chief Economist at ACY


• 11.01.2022 12:00 pm
#stocks , Clifford Bennett has over 36 years of market trading experience and was named the 'World's most accurate currency forecaster' by Bloomberg New York. He has advised some of the world's largest organisations, billionaire investors, and political leaders and spoken at the prestigious APEC summit on reserve currency issues. Clifford is the Chief Economist at ACY Securities.

Things are looking up on the Retail Sales front, but for how long?

It is likely we will see a sharp pullback in the current month. Which of course is only natural given the volatility of all economic data series in attempting to map out what is fast happening in our real world.

What we do know is that things are most definitely returning to a moderately changed new normal. With the large caveat of the current Omicron setback. The impact of which is growing though by no means devastating the economy as yet.

On the trade front: Imports are steadily climbing back toward pre-covid levels as global trade gets back into some form of sync. Our heydays of through the roof exports however, are behind us. As a result we end up with a continuing decline in the Trade Balance. Which in the end is what matters.

Expect further stabilisation of trade. Though with lower exports than were budgeted for. Domestic growth will be slightly diminished as a result.

Our central view of below trend economic growth for Australia remains in place.

Retail Sales

Imports

Exports

Trade Balance

Clifford Bennett

ACY Securities Chief Economist.

The view expressed within this document are solely that of Clifford Bennett’s and do not represent the views of ACY Securities.

All commentary is on the record and may be quoted without further permission required from ACY Securities or Clifford Bennett.

This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.