Market WATCh Weekly 27 August 2021

Market WATCh Weekly 27 August 2021

August 27, 2021

In Australia, the number of new daily local COVID-19 cases rose above a thousand in New South Wales on Wednesday. Infections in Victoria also continued to climb. The Aussie flash PMIs pointed to further contraction in economic activity in August. Construction work done posted a smaller rise than expected in Q2, while growth in Q2 private sector capex surprised to the upside. Payroll jobs fell in all states but Western Australia over the second half of July. Retail sales fell 2.7% in July. Overseas, the flash PMI reports pointed to slower, but still robust, economic activity growth in the US and Europe. However, activity continued to fall in Japan.

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