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19 Feb 2020

Australia: Coronavirus hit tourism – ANZ

Economists at ANZ have carried out research which shows a steep drop in airport spending in February, reflecting coronavirus-related travel bans and lower appetite for international travel. EUR/AUD is trading at 1.612. 

Key quotes

“Spending in small airports with mostly domestic flights did not fall.  Spending in major airports (Brisbane, Melbourne, Perth, Sydney) dropped 27% from the week ending 21 January to the week ending 8 February.”

“The effect of this fall in international tourism could be concerning for Australia’s economic activity. We recently estimated that GDP for the March 2020 quarter could go backwards as a result of the coronavirus-related drop in travel.”  

“We expect airport arrivals and tourism spending to remain low, while the travel bans continue and some local residents elect not to travel internationally.”

 

Feb 19, 2020

Australia: Wage growth shows underutilisation in the labour market – ANZ

The wage price index (WPI) released by Australian authorities overnight has not changed the chronic weakness in the labour force, analysts at ANZ Rese
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Feb 19, 2020

Sweden Consumer Price Index (YoY) registered at 1.3%, below expectations (1.7%) in January

Sweden Consumer Price Index (YoY) registered at 1.3%, below expectations (1.7%) in January
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