Market WATCh Weekly 27 May 2022

Market WATCh Weekly 27 May 2022

May 27, 2022

In Australia, construction work done and capex both fell in Q1. Retail trade rose again in April, reaching a new record high. The composite PMI declined somewhat in May but remained well and truly in the positive territory. Consumer confidence picked up last week, while inflation expectations remained elevated. Offshore, the FOMC minutes signalled further 50bps increases in the fed funds rate in June and July. Growth in US durable goods orders slowed in April. The US composite PMI signalled a likely deceleration in activity growth in May.

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