Analysts at TD Securities explain that similar to Australia’s business sentiment pickup, Oct consumer confidence rose 1% to 101.5 (prior -3% to 100.5), showing an expansion without running away.
Key Quotes
“RBA speech from the Kimberleys gave a good rundown of state trends, showing a slow down in economic activity in Western Australia post mining boom, with reasonable indicators for conditions to stabilize. Sentiment and activity in mining and related sectors have improved most while that for the housing sector requires movement of people and job creation over time to bring improvements.”
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