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BNO, CCV, KMD, NHC, NUF, TPM,

AAP

November 30 2012, 5:47PM

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AUSTRALIAN BUREAU OF STATISTICS (ABS) BUSINESS INDICATORS

Due: Monday

Period: September quarter

Market forecast: A monthly fall of 3.0 per cent is expected.

Last result: Company gross operating profits fell 0.7 per cent in the June quarter, and by 6.5 per cent in the 12 months to June 2012.

Estimated business inventories, in seasonally adjusted chain volume terms, rose 0.6 per cent in the June quarter after rising 1.3 per cent in the March quarter.

The estimate of income from sales by manufacturers in the June quarter, in seasonally adjusted chain volume measures, was down 1.8 per cent.

Estimated income from sales by wholesalers in the June quarter in adjusted chain volumes measures was up 1.6 per cent.

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ABS RETAIL TRADE

Due: Monday

Period: October

Market forecast: A monthly rise of 0.4 per cent is forecast.

Last result: Australian retail spending rose 0.5 per cent in September.

Retail trade rose in the month to a seasonally adjusted $21.592 billion, compared to an upwardly revised $21.475 billion in August.

Over the September quarter, retail sales fell by 0.1 per cent to $63.797 billion in seasonally adjusted volume terms.

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AUSTRALIAN INDUSTRY GROUP PERFORMANCE OF MANUFACTURING INDEX (PMI)

Due: Monday

Period: November

Market forecast: No forecast.

Last result: Australia's manufacturing sector has contracted for an eighth consecutive month, despite a mild rise from the month before.

The Ai PMI rose marginally to 45.2 in October from 44.1 the previous month.

However, readings below 50 indicate the index is in contractionary territory, a place it has been stuck since March.

The October sub-indice for new orders dropped to 43.9 in October from 44.3, while only two sectors expanded in the month - paper, printing and publishing (at 51.1), and transport equipment (at 52.5)

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TD SECURITIES INFLATION GAUGE

Due: Monday

Period: November

Market forecast: No forecast.

Last result: The monthly inflation gauge showed that consumer prices rose by 0.1 per cent in October after a lift of 0.2 per cent in September and a 0.6 per cent gain in August.

In the 12 months to October, the gauge rose 2.4 per cent.

The October rise was attributed to increased prices for communications, newspapers, books and stationery, and domestic holiday travel and accommodation.

These were offset by weaker readings for fruit and vegetables, bread and cereals, and audio visual and computing equipment and services.

The price of fruit and vegetables fell 4.6 per cent in October, after large rises in August and September.

TD's estimate of the trimmed mean measure of underlying inflation, which filters out extra-large rises and falls, recorded annual growth of 2.1 per cent.

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ANZ JOB ADVERTISEMENTS SERIES

Due: Monday

Period: November

Market forecast: No forecast.

Last result: Australian job advertisements fell to their lowest point in more than two years in October, with weakness in all states, including those supported by the mining sector.

The monthly ANZ Job Ads survey, released on Monday, showed the number of job advertisements fell 4.6 per cent in October, after a drop of 3.9 per cent in September.

This means the number of job ads has fallen for seven straight months, and is at its lowest point since January 2010.

Internet-based advertising fell by 4.6 per cent in October, down 14.4 per cent year-on-year.

As well, newspaper advertising showed a clear decline, falling 4.1 per cent in the month, for a fall of 26.9 per cent from the previous year.

All states (and the ACT) reported falls in newspaper advertising in October, with particular weakness in Victoria, WA and the ACT.

There was a sharp rise by 41.7 per cent in newspaper advertisements in the Northern Territory, although the survey noted that this reading often experiences volatility.

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DUN AND BRADSTREET BUSINESS EXPECTATIONS SURVEY

Due: Monday

Period:

Market forecast: No forecast.

Last result: Business investment hit its highest level in nine years in the most recent survey, with recent interest rate cuts helping to boost confidence.

The survey - which measures businesses' expectations for the coming quarter - showed the projected capital business investment index for the March quarter was at 20, five points higher than the December quarter.

The survey said almost a third of Australian companies planned to boost their long-term capital investment in 2013.

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RESERVE BANK OF AUSTRALIA (RBA) INDEX OF COMMODITY PRICES

Due: Monday

Period: November

Last result: Australia's export commodity prices fell to a two-year low in October according to RBA figures.

The RBA's index of commodity prices was 3.5 per cent lower in foreign currency terms compared with September, and down by 19.5 per cent from its peak in July last year.

The October level was the lowest for the index since October 2010.

Although down from its recent peak, the index was still 187 per cent above its level in late 2003, before the price surge caused by booming demand for minerals.

The RBA said the main contributors to the fall in October were coking coal, thermal coal and oil.

Falls for those commodities were partly offset by higher iron ore prices although base metals also fell.

The price index is measured in terms of special drawing rights (SDRs), an average of four major currencies - US dollar, euro, Japanese yen, and British pound.

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ABS BALANCE OF PAYMENTS AND INTERNATIONAL INVESTMENT POSITION

Due: Tuesday

Period: September quarter

Market forecast: Forecast deficit of 14.5 billion for the quarter.

Last result: Australia's current account deficit narrowed to $11.801 billion in the June quarter, seasonally adjusted.

This followed a downwardly revised deficit of $12.997 billion in the March quarter.

The median market forecast was for a deficit of $12.2 billion in the June quarter.

The deficit on goods and services in chain volume terms (adjusted for price changes) decreased $871 million, which would add 0.3 percentage points to growth in the June quarter measure of gross domestic product (GDP).

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ABS BUILDING APPROVALS

Due: Tuesday

Period: October

Market forecast: Expected to fall 1.5 per cent month-on-month, but rise 20.2 per cent over the year.

Last result: Australian residential building approvals rose 7.8 per cent to 13,388 units in September.

This compared to an upwardly revised 12,422 units in August, seasonally adjusted.

In the year to September, building approvals were up 12.4 per cent.

Economists' forecasts had centred on a 1.0 per cent rise in approvals for September.

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ABS GOVERNMENT FINANCE STATISTICS

Due: Tuesday

Period: September quarter

Market forecast: No forecast.

Last result: Total government spending, including consumption and capital formation (investment), was up by 1.9 per cent in seasonally adjusted chain-volume (inflation-adjusted) terms in the June quarter.

The estimates corresponded to the public sector spending aggregates accounting for about a quarter of gross domestic product (GDP).

Accordingly, the rise in government spending was expected to add just under half a percentage point to GDP growth in the quarter.

Within the total, general government final consumption expenditure rose by 1.6 per cent in the June quarter, according to the ABS.

General government gross fixed capital formation - investment in productive capacity - fell by 0.5 per cent, while gross fixed capital formation by public corporations jumped by 11.1 per cent.

Total public sector gross fixed capital formation (general government and public corporations combined) was up by 2.8 per cent in the quarter.

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RESERVE BANK OF AUSTRALIA (RBA) MONTHLY MEETING AND RATE DECISION

Due: Tuesday

Period: December meeting

Market forecast: The central bank is expected to cut the cash rate by 0.25 per cent, to 3.00 per cent.

Last result: The RBA left its interest rate on hold at 3.25 per cent at its November board meeting, citing improved conditions in the US and China, as well as close-to-trend economic growth in Australia.

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ABS NATIONAL ACCOUNTS, INCLUDING GROSS DOMESTIC PRODUCT (GDP)

Due: Wednesday

Period: September quarter

Market forecast: Rise of 0.6 per cent for the quarter, and 3.1 per cent over the year.

Last result: Australia's economy grew by 0.6 per cent in the three months to June, slightly below expectations.

That took gross domestic product (GDP) growth for the year to June to 3.7 per cent, in seasonally adjusted terms, the Australian Bureau of Statistics (ABS) said on Wednesday.

The June quarter growth follows an upwardly revised 1.4 per cent rise in the March quarter.

Economists had been expecting GDP to rise by 0.8 per cent in the June quarter for an annual rate of 3.7 per cent.

The seasonally adjusted GDP implicit price deflator, the broadest measure of price changes in the economy, was up 0.3 per cent in the June quarter, from a fall of 1.0 per cent in the March quarter, to be down 0.4 per cent over the year.

The seasonally adjusted implicit price deflator for household final consumption was up 0.7 per cent in the June quarter, from a rise of 0.1 per cent in the previous quarter, and was up 1.6 per cent over the year.

Farm GDP, in chain volume measures, rose 0.4 per cent in the June quarter to be up 7.0 per cent in the year to June.

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AUSTRALIAN INDUSTRY GROUP/COMMONWEALTH BANK AUSTRALIAN PERFORMANCE OF SERVICES INDEX (PSI)

Due: Wednesday

Period: November

Market forecast: No forecast.

Last result: Activity in the Australian services sector fell for the ninth consecutive month in October, weighed down by weak consumer confidence.

The Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (PSI) rose 0.9 points to 42.8 points in the month.

A reading below 50 indicates a contraction in activity.

Eight of the nine sub-sectors covered by the activity survey recorded falls in the month, with transport and storage, retail trade and wholesale trade among the weakest.

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RBA DEPUTY GOVERNOR PHILIP LOWE SPEECH

Due: Wednesday

Details: Speaking to the Australian Business Economists (ABE) Annual Conference Dinner, Sydney

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ABS LABOUR FORCE

Due: Thursday

Period: November

Market forecast: Unemployment at 5.5 per cent, no rise in total employment, participation rate to be unchanged at 65.1 per cent.

Last result: Australia's unemployment rate was steady at 5.4 per cent in October, according to official data.

Total employment rose 10,700 to 11.523 million in October, according to the seasonally adjusted figures released by the ABS.

The forecast was for total employment to rise by 5,000 in October with the unemployment rate at 5.5 per cent, according to an AAP survey of economists.

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RBA ASSISTANT GOVERNOR GUY DEBELLE (FINANCIAL MARKETS) SPEECH

Due: Thursday

Details: Seaking to the Melbourne Institute 50th Anniversary Conference 2012, Melbourne

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ABS INTERNATIONAL TRADE IN GOODS AND SERVICES

Due: Friday

Period: October:

Market forecast: Deficit to widen to $2.2 billion.

Last result: Australia's trade deficit narrowed in September, according to official data.

The balance on goods and services was a deficit of $1.456 billion in September seasonally adjusted, compared with a revised deficit of $1.876 billion in August.

Economists' forecasts had centred on a deficit of $1.5 billion in September.

During September, exports were down 1.0 per cent, while imports were down 2.0 per cent.

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AUSTRALIAN INDUSTRY GROUP/HOUSING INDUSTRY ASSOCIATION PERFORMANCE OF CONSTRUCTION INDEX (PCI)

Due: Friday

Period: November

Market forecast: No forecast.

Last result: The Ai Group/Australian Housing Association (HIA) performance of construction index (PCI) showed activity rising to an index level of 35.8 in October, up from 30.9 the previous month.

The rise shows contraction at its slowest pace in seven months, and provides some relief to a sector that has been in the red since mid-2010.

The survey noted a rise in new orders - at 36.8 points, from 29.1 in September - while the usually-weak house building sector jumped 12.5 points to 41.1 points.

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