Commercial Market Focus – August 2017
The Westpac-Melbourne Institute Consumer Sentiment Index rose slightly in July by 0.2 points to 96.6 to remain in pessimistic territory. The difference between consumer and business sentiment continues to be wide and remains a key factor in Australia’s sub-trend growth. The AiG-PMI remained in Expansion at 56.0 up by 1.0 in July and the D&B Business Expectations and Actual also both rose in the latest survey. However the W-MI Leading Index fell sharply in June from 0.51% in May to minus 0.76% pointing a slowing in momentum relative to trend over the next 3-9 months. Basically signals remain mixed.