Monday Money Mate — 7 December 2020
September’s GDP results showed Australia has emerged from its COVID recession, but the next shopping week will be a crucial one for building momentum for a happier New Year.
While Australia’s economy looks healthier, there’s growing concern about the US economy as COVID cases there continue to rise.
The nation’s latest Employment Trends Index is due for release on Wednesday — a key indicator of economic health — so if the US sneezes, will Australia catch a cold?
Monday 11.30 am EST
Australia ANZ Job Advertisements (Dec)
Are Australian employers hiring?
Tuesday 11.30 am EST
RBA interest rate decision (Dec)
Is Australia’s economy bullish or bearish?
Tuesday 14.30 am EST
Australian building approvals (Dec)
Are Australians building new homes or waiting for better times?
Tuesday 02:00 am EST
US Employment Trends Index (Dec)
Is the US economy rising or falling?
Will Australia have a merry Christmas?
But with just three weeks to Christmas, key consumer confidence indicators will be released from banks like NAB and Westpac this week, as well as the latest figures for new build housing.
Economies run on confidence, so these housing and retail indexes could be a true barometer of the economy’s health.
So Australia’s economic leaders will be watching slowly to see if we’ll be scrooges or spenders.
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