“Economic Highlights: Inflation, Job Advertisements, Trade Balance, Services PMI, Investor Confidence and Federal Reserve Speech”
The economic predictions shared on Monday, February 5, imply potential ups and downs in various sectors worldwide. The AUD MI Inflation gauge m/m showed a rise from 0.3% to 1.0%, indicating a potential inflationary pressure on the Australian economy. In contrast, the NZD ANZ Commodity Prices increased slightly from 2.2% to 2.4%, hinting at a surge in demand for New Zealand’s export commodities. However, the AUD ANZ Job Advertisements m/m fell from 1.7% to 0.6%, suggesting a downward trend in Australia’s employment sector.
On another note, the AUD Goods Trade Balance exceeded expectations, which bodes well for Australia’s economy. Meanwhile in China, the CNY Caixin services PMI rested at 52.75, suggesting steady growth in China’s service sector.
Regarding Europe, the German Trade Balance and EUR Final Services PMI were healthier than expected, signaling a positive outlook for the European economy. However, the Spanish and Italian Services PMI indicated slow growth in their respective service sectors.
Lastly, in the US, while the final services PMI had a moderate score, the Federal Chair, Powell’s speech might indicate changes in monetary policies impacting the US economy.
In conclusion, these predictions suggest a globally mixed economic outlook with individual sectors navigating through various challenges and opportunities.
