Sally Auld

speaker

5,823 appearances 57 recordings 1 series first heard Sep 2024 last heard 17 Aug

Sally Auld’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 28 in all, peaking in Aug 2026 with 3.

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NAB Morning Call · Open Tomorrow. Or Not. · 3 Aug 2026 podcast

There, you know, I do wonder whether uh you know this is this is sort of the beginning of, you know, this sort of new world order that we talk about where um you know, countries who are strategic allies uh, you know, it's it's much more than just words, it's actually action as well.

Across a whole range of years.

Yeah, Tommy

Yeah, that's right.

So it was a bit disappointing and I guess in stark contrast to the manufacturing numbers coming out of the US overnight.

And just sort of suggesting that uh you know, after a slowdown in some of the Chinese uh activity data in in the second quarter, that we haven't really started the third quarter on an overly strong footing.

So I guess at the margin that just sort of nudges up expectations for a bit more action from policymakers in China, probably more likely to come.

uh through fiscal policy rather than rather than monetary policy, but it does suggest that

You know, the these sort of lingering issues that have dog the Chinese economy for a while now, whether it's just too much spare capacity in the domestic economy.

um not enough domestic demand, et cetera, et cetera.

That they are still lingering and and a source of uh weakness for the the broader economy in China.

Hm.

So we're looking for that indicator to be up eight tenths of a percent today.

So that would follow a pretty solid rise in May.

Um and we're basing that

That forecast, uh, you know, partially on what our own internal spending data that we publish each month, our NAB spend trend, that showed a pretty solid increase in June as well, uh, actually driven by discretionary spending.

So it is interesting uh in the sense that in terms of what we can see in our own internal data, it feels like the consumer did okay in the second quarter.

And I do wonder whether

You know, maybe we've been surprised by that because in the end the hit to real incomes possibly wasn't as severe as we maybe thought at the beginning of the of the quarter as as we were really in the throes of the the Middle East conflict and materially higher

oil and petrol prices.

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