Australian Un-employment and Fed Outlook Update
- Clifford Bennett, Chief Economist at ACY Securities
- 16.12.2021 12:00 pm #stocks
This is not the first time this has happened. Thoughts to all those involved this morning in Tasmania.
We all need to take responsibility and not just rely on others to have thought things through, and to consider the conditions. Many of these children have fallen out at a height of 10 metres. Rides of all kinds go wrong. Not our usual brief, but a timely reminder. If you are in the area and see that something could go wrong, always speak up.
Today's Fed Discussion Show.
Australia Un-employment drops back to 4.6%.
A quite strong number that should not be confused with a strong economy. Possibly, both are true to an extent, but remember this is all about worker shortages due to continuing travel disruption. Hospitality, agriculture and even mining are all in need of more workers. State border restrictions to WA, and reduced global travel generally mean any available workers will be quickly snapped up.
US Retail Sales really tracking flat.
It is a modest number, but in the context of lacklustre performance over many months now, it looks rather poor.
New Zealand economy contracts as expected.
It may not be as bad as many had feared, but is nonetheless a horrible result. More recent services and other data point to an on-going malaise. This may be the one country that should be slowing down its ideas on rate hikes.
