Citibank: Australia data consistent with economic activity

Citibank analysts are seeing the current weaker sentiment indicators for Australian economy as unlikely to translate into further slowing in hard activity data, nor leading to reactive monetary policy changes.

Key Quotes

“Data is still consistent with econ activity that can produce meaningful consumption and employment growth. Furthermore, this outlook is consistent with the RBA’s near and medium term outlook. Markets await this week’s Australian employment data on Wednesday.”