All quiet for Presidents Day
NAB Morning Call
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The UK's Funny, Isn't It?
Retail sales for January month on month increased. But it's fair to say, if we look in volume terms, the trend is significantly down. I mean, this is an economy which is cooling without a doubt. Markets and equity markets got carried away with this no landing or re-exceleration because we had a few better than expected data prints. The UK figures do suggest that maybe we should put a bit of caution towards all of that. We're really going to have to wait until the February and March data to get a clearer read in terms of where the economy is traveling,. not only in Australia, but also offshore.
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