NZ building consents drop again in July, biggest in 3 years – For the y/y, down 0.4% This is a volatile data point. The earlier part of the year had seen a decent improvement, but June and July both lower (from a high level, admittedly)
Here is a piece in the South China Morning Post on that perennial favourite, the veracity of Chinese economic data It looks at GDP, industrial profits, and investment data (and more). For example:
A response to the building permits data for July released earlier: This (in brief) via Westopac sums it up: — AUD update: ForexLive
Tokyo CPI data is available earlier than the National CPI. The inflation data for August is on Friday 31 August – Due at 2330GMT Tokyo CPI y/y – expected 1.0%, prior was 0.9% Tokyo CPI excluding Fresh Food y/y
The official figures for manufacturing and non-manufacturing OMIs for August are due at 0130GMT on Friday 31 August – manufacturing expected 51.0, prior 51.2 – non-manufacturing prior 54.0 The WSJ is looking for a slip, citing:
Official July PMIs from China will be out on Friday 31 August – manufacturing expected 51.0, prior 51.2 – non-manufacturing prior 54.0 – composite prior 53.6 The Caixin / Markit surveys for PMIs will follow on Sep 3
Australia Private Capital Expenditure for April to June (second quarter) The 3rd estimate for 2018/19 came in at 102bn AUD and this is not too far from expectations.
Australia building approvals for July -5.2 % m/m and a big miss -5.6 % y/y and ditto for the miss – expected -3.0% y/y, prior +1.6% Something to note is this has been slowing, no doubt on that, slowing for an albeit high level. There is plenty of supply coming on line, which is a factor…
New Zealand dollar lower still after ANZ’s business survey for August showed business confidence at a 10 year low: More on the details at that link. Meanwhile, the kiwi:
ANZ’s Business Outlook Survey is a monthly survey of around 1,500 businesses NZ-wide Activity outlook +3.8Business confidence -50.3 and another awful result, now to a new 10 year low NZD has dropped under 0.6700.