Wry & Dry #9-27
Grim Jim denies the incoming tide. Farmer Angus Taylor is even less popular than Pauline Hanson. Germany wakes up to problems of shorter hours. US navy docks in Thailand – local economic boom. Venezuela was made an offer it couldn’t refuse. Europe’s Gen Z crown princesses.
A couple of gems in a morass of weak economic data – EarlyPay, Emeco & Worley
The final week of company profit reporting season reinforced many of the themes that have been building through August. The clearest area of weakness remained domestic spending. Consumers are still under pressure, trading down where they can and becoming increasingly selective about discretionary purchases. Even Chemist Warehouse, one of the strongest structural growth stories in Australian retail, and the perennial darling Bunnings disappointed the market on sales. There was little in the week to suggest that the domestic consumer is about to become dramatically more generous.