Market WATCh Weekly 3 June 2022

Market WATCh Weekly 3 June 2022

June 3, 2022

At home, real GDP rose more than expected in Q1, but price pressures accelerated notably. The current account surplus narrowed further in Q1, while the terms of trade rose to a record high. April saw a re-widening of the trade balance as well as a decline in building approvals and new home loans. Abroad, the ISM PMI pointed to further acceleration in US manufacturing growth in May, with still elevated price pressures. Growth in ADP employment slowed in May. Chinese PMIs suggest that the pace of contraction narrowed in May.

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