Taylor Nugent

speaker

7,962 appearances 80 recordings 1 series first heard Sep 2024 last heard 27 Aug

Taylor Nugent’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 — 36 in all, peaking in Nov 2025 with 5.

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NAB Morning Call · China warns of the Thucydides Trap · 14 May 2026 podcast

And we saw, you know, um growth in equities again, kind of led by the Nasdaq over over the SP 500, um, you know, quite quite separately to you know those themes in the broader economy. matched

But kind of as you say, the data that we did get from the US were, you know, pretty supportive of a story of of consumer resilience in in the face of higher. matched

Gas prices. matched

Yeah, and I think that's kind of the the key point. matched

We know that, you know, these are these are nominal numbers. matched

They were up point five percent this month after one point seven percent the prior month. matched

A lot of that is is gas prices, which which rose again on on higher prices, um, much less so than than March, though, obviously. matched

But you know, those core measures, as you say, they kind of also held up. matched

So, you know, the the headline numbers there were broadly in line with expectations in the month, although the core measures, the X matched

fuel and auto measures and that control group measure, um which is that subset that feeds most directly into the um the the GDP outcomes, they were a little stronger than than consensus at at the margin, um, but also were supported a little bit by some upward revisions as well. matched

And so, you know, the story here does seem to be, you know, similar to to what we're seeing in in Australia, maybe even a little bit more so US consumers are kind of meeting those higher gas prices without matched

Much of a hit or or an offset in in their spending in other parts of the basket. matched

And so, you know, when you look at the detail there, there was some strength in in food spending in in April. matched

Maybe a lot, maybe much of that could be attributed to higher, higher prices. matched

But, you know, when you look at signs that this is kind of hitting broader discretionary consumption, you know, um, restaurant meals was was reasonably healthy in the month. matched

You saw kind of non-store retailing or online retail. matched

purchases reasonably strong as well. matched

And certainly in that category in particular, it's hard to to imagine that all of that is going to be price driven. matched

So it does suggest that there's some some underlying resilience here. matched

Um and I think, you know, what it says is that, you know, with those upward revisions, it probably says that there's kind of, you know, the bias for a bit of an upward revision on that initially reported first quarter consumption number in in the US. matched

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