Australia: Q2 capex and July retail sales are the highlights - TDS

Research Team at TDS, suggests that this Thursday’s Q2 capex and July retail sales are the highlights of the Australian economic calendar. 

Key Quotes

“Q2 capex is unlikely to add to GDP growth as the mining unwind rolls on, dampening plant and equipment investment in particular. Very soft retail sales in recent months as any pickup in sales volumes is only achieved via flat to falling prices (i.e. discounting). There has been a noticeable pickup in consumer sentiment in recent weeks but will this translate into more buoyant retail sales for July?  Otherwise, credit for July on tomorrow, and house prices for Aug on Thu.”