Market WATCh Weekly 15 July 2022

Market WATCh Weekly 15 July 2022

July 15, 2022

At home, employment surged to a fresh record high and the unemployment rate hit the lowest level since Q3 1974. NAB business confidence dropped below the long-run mean, but business conditions eased only slightly and remained well above average. Westpac consumer sentiment deteriorated for the eighth month in a row. Abroad, US CPI and PPI inflation rose more than expected in June. Chinese annual GDP growth stalled in Q2, yet the economic activity data improved towards the end of the quarter. The Chinese trade surplus rose to a new record high, supported by faster exports growth and a weaker rise in imports.