The Week Ahead

By Savanth Sebastian

Last week the Roy Morgan Consumer Confidence index fell by almost 6 per cent, largely as a result of the headline-grabbing news that the unemployment rate had lifted to a 12-year high of 6. 4 per cent.

In the coming week, a gamut of top shelf US economic indicators compete for attention with the minutes of the last Federal Reserve Open Market Committee meeting — the FOMC being the policymaking committee of the US central bank.

On Wednesday, among those scheduled to issue their profit results are Woodside, Ausenco, Wesfarmers, APA Group, Bega Cheese, APN News & Media, Challenger, Charter Hall, Fletcher Building, Mount Gibson Iron, Southern Cross Media, Seek Limited, The Reject Shop, Paperlinx, Brambles, AGL Energy, Fortescue & Coca Cola Amatil.

Stripping out food & energy prices, core CPI rose by a tame 0. 1 per cent in June to be up just 1. 9 per cent on year ago. Economists tip just a 0. 2 per cent lift in the July core result.

Given that a statement was released after the meeting and the Statement of Monetary Policy was issued last Friday, it is unsure how much extra information the Reserve Bank could provide.

The leading index is tipped to have lifted by 0. 6 per cent in July while existing home sales are expected to have eased by 0. 8 per cent.

The VFACTS data showed that new car sales fell by 0. 4 per cent over the year to July 2014.

Read more here: Business Spectator


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