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Wednesday 26

July, 2017 8:41 PM



The Week Ahead

The Week Ahead

If it wasn?t for the Reserve Bank, the upcoming week would be quite dull. But there are three speeches by Reserve Bank officials in the coming week.

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19.05.2017 03:39 PM

If it wasn’t for the Reserve Bank, the upcoming week would be quite dull. But there are three speeches by
Reserve Bank officials in the coming week.

The week kicks off on Monday when the Commonwealth Bank releases the April business sales indicator, a measure of economy-wide spending.

On Tuesday the Reserve Bank Deputy Governor Guy Debelle is set to deliver a speech entitled “How I Learned to Stop Worrying and Love the Basis”– at the BIS Symposium: CIP – RIP? in Basel, Switzerland. While entertainingly worded, the speech probably won’t drive financial markets.

On Wednesday the Australian Bureau of Statistics (ABS) releases data on Construction Work Done. The data contains estimates of residential, commercial and engineering work completed in the March quarter. The residential work figures will feed in directly to the calculation of economic growth in the quarter.

In the December quarter construction work done fell by 0.2 per cent in real (inflation-adjusted) terms after falling by 4.4 per cent in the September quarter. Work done is down by 7.8 per cent on a year ago. Public sector construction work fell by 1.6 per cent in the quarter while private sector activity rose by 0.2 per cent. But residential building rose by 1.1 per cent in the December quarter and was up by 5.7 per cent over the year. Alterations & additions rose by 2.1 per cent in the quarter while new residential work rose by 1.0 per cent. 


Originally published by CommSec
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