Oz Economic Indicators: Retail sales weakest on record & China factories hit 14mth high

The Market Herald04-30

We’ve had two important points of economic data drop today for the land down under – retail sales at home, and, what’s happening across the sea with our largest trading partner, China. Let’s start ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2431380396?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-30 11:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2431380396","market":"hk","top_or_hot":-1,"title":"Oz Economic Indicators: Retail sales weakest on record & China factories hit 14mth high","media":"The Market Herald","content":"<div>\n<p>We’ve had two important points of economic data drop today for the land down under – retail sales at home, and, what’s happening across the sea with our largest trading partner, China. \nLet’s start ...</p>\n\n<a href=\"https://themarketonline.com.au/oz-economic-indicators-retail-sales-weakest-on-record-china-factories-hit-14mth-high-2024-04-30/\">Source Link</a>\n\n</div>\n","source":"markerherald_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oz Economic Indicators: Retail sales weakest on record & China factories hit 14mth high</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOz Economic Indicators: Retail sales weakest on record & China factories hit 14mth high\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-30 11:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketonline.com.au/oz-economic-indicators-retail-sales-weakest-on-record-china-factories-hit-14mth-high-2024-04-30/><strong>The Market Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We’ve had two important points of economic data drop today for the land down under – retail sales at home, and, what’s happening across the sea with our largest trading partner, China. \nLet’s start ...</p>\n\n<a href=\"https://themarketonline.com.au/oz-economic-indicators-retail-sales-weakest-on-record-china-factories-hit-14mth-high-2024-04-30/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XAO.AU","symbol_name":"标普/澳交所 普通股指数","start_time":0,"source_url":"https://themarketonline.com.au/oz-economic-indicators-retail-sales-weakest-on-record-china-factories-hit-14mth-high-2024-04-30/","article_id":"2431380396","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2431380396","pubTimestamp":1714446900,"sourceInfo":{"source_id":"markerherald_stock","name":"The Market Herald"},"weMediaInfo":null,"summary":"We’ve had two important points of economic data drop today for the land down under – retail sales at home, and, what’s happening across the sea with our largest trading partner, China.Let’s start with the domestic data – where we’ve learned that retail sales growth is officially the weakest on record . The long story short is that we’re seeing multiple pressures on the Australian consumer, even as the household savings ratio starts to bounce back from historic lows. In short: people are holding onto money. Could this be the start of the mortgage cliff?After all, recent results from Bank of Queensland  – Australia’s bank most exposed to mortgages – showed arrears are on the uptick. Other independent research has also concluded nearly one third of all Australian mortgage holders are at risk of mortgage stress.Following a +0.2% rise in retail sales in February, the March data released by Australian Bureau of Statistics  on Tuesday points to a sharp turnaround.Which is why it’s interesting","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","BK7139":"区域性银行","XJO.AU":"标普/澳交所 200指数","XKO.AU":"标普/澳交所 300指数","BOQ.AU":"BANK OF QUEENSLAND LTD"},"translate_title":"奥兹经济指标：零售额创历史最弱&中国工厂创14个月新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOQ.AU":1,"XAO.AU":0.9,"XJO.AU":0.9,"XKO.AU":0.9},"content_text":"We’ve had two important points of economic data drop today for the land down under – retail sales at home, and, what’s happening across the sea with our largest trading partner, China. \nLet’s start with the domestic data – where we’ve learned that retail sales growth is officially the weakest on record (excluding the introduction of GST, and the COVID years.)\nThe long story short is that we’re seeing multiple pressures on the Australian consumer, even as the household savings ratio starts to bounce back from historic lows. In short: people are holding onto money. Could this be the start of the mortgage cliff? \nAfter all, recent results from Bank of Queensland (ASX:BOQ) – Australia’s bank most exposed to mortgages – showed arrears are on the uptick. Other independent research has also concluded nearly one third of all Australian mortgage holders are at risk of mortgage stress. \nEconomy watchers (and RBA watchers) will surely be keeping an eye on things. \nSo what about retail? \nFollowing a +0.2% rise in retail sales in February, the March data released by Australian Bureau of Statistics (ABS) on Tuesday points to a sharp turnaround.\nIn March, Australian retail sales fell -0.4%. \nThe signal is largely one being considered a sign of cost of living pressures continuing to bite. \nRetail turnover has, in fact, been flat for two quarters. On a YoY basis, Australian retail sales growth is up only +0.8%. This could imply people are cutting back on goods while services inflation remains sticky – particularly in housing. Last week we got a read of +3.6% CPI that spooked the markets.\nBut RBA watchers may take some solace from today’s commentary from the ABS – especially those hoping ANZ Bank get it right when they say the RBA will cut rates -25bps in November 2024. \n“Underlying retail turnover has been flat for the past six months and was up only 0.8 per cent compared to March 2023,” ABS head of retail Ben Dorber said.\n“Outside of the pandemic period and introduction of the GST, this is the weakest growth on record when comparing turnover to the same time in the previous year.”\nThe news doesn’t exactly scream a bull case for the RBA to hike rates at its next meeting on May 7. \nAnd what’s this about China?\nThe Chinese economy matters for Australia for a few reasons, but there’s two very big ones. \nThe first one is obvious: iron ore sales. Treasurer Jim Chalmers has been saying for months that as iron ore prices fall, driven by a weaker Chinese demand base due to that country’s property sector woes, our budget surplus will falter.  \n(With that said, SGX iron ore futures are back to US$116/tn.) \nThe second reason China’s economy matters for us is the value of the AUD, which whether you like it or not, is largely seen as something of a canary in the coalmine for the Chinese economy. \nBasically, a strong AUD implies a robust China – and we aren’t seeing that in forex right now. \nWhich is why it’s interesting that – should you trust the Chinese data – factory activity is at a 14 month high, which we learned on Tuesday.\nChinese industrial production hit pre-COVID levels back in February of this year, even as the country struggles with deflationary pressure, which it’s been grappling since mid-late 2023.  \nAll in all, it’s hard to make sense of China right now – a lot of the numbers don’t appear to add up, but the country is deeply complex and language barriers make reliable high-quality analysis more difficult.\nBut one thing is certain: inflationary pressure interplays aside, a strong China makes for a stronger Australia.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2431380396"}