The current slowdown in consumer spending reflects factors such as slower employment growth, higher petrol prices, higher interest repayments and a slower housing market.
More Quotes from Brian Redican:
We're optimistic that exports will improve, but probably not until the second quarter of 2006.Brian Redican
There remains a lingering risk of higher interest rates should signs of stronger employment and inflation emerge in coming months.
Brian Redican
The continued buoyancy of the labor market has sustained consumer confidence and limited the fallout from the softening housing market. This, in turn, ensures that the Reserve Bank has retained a tightening bias for interest rates.
Brian Redican
The market has been trying to push a rate cut, but the Governor has remained steadfast, saying there is no scope for lower rates. The Reserve Bank does have a tightening bias and is concerned by wages pressure.
Brian Redican
We've gone through a period where everything has gone right for company profits, but over the past 12 months some cracks have started to develop.
Brian Redican
An improvement in the trade balance will set the economy up for an improved performance in the fourth quarter. Mediocre consumer spending, the drag from net exports and declining housing construction have taken their toll on growth in the third quarter.
Brian Redican
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