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Tony Alexander's Weekly Overview: A Run Of Weak Data

A Run Of Weak Data

Welcome to the November 15 edition of Tony Alexander's Weekly Overview

The central global themes currently are better than expected data in China and the United States but worries about the US budget deficit, Japan shrinking 0.9% in the September quarter with political dysfunction, and Europe facing increasing social unrest and deepening short, medium, and long term economic woe.

NZ data recently have been worse than expected highlighting yet again that the post-GFC recovery has yet to find its legs. But a construction boom looms and that will forestall any additional monetary policy easing here while keeping the NZD strong and likely rising assisted by investors liking our export product base. Meanwhile the Auckland housing market is shifting into boom territory assisted soon by a wave of investors discontented with low returns on bank deposits and eager to find property exposure.

Click here to read the Weekly Overview November_15.pdf

Best regards
Tony Alexander
Chief Economist


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