Link to the prior release, which showed a big jump
–
- A fall to 5 from a prior of 12
- The AUD is sold off 15 or so points on the data (added – continuing lower)
- NZD is lower too
- NAB has now said the expect a 25 bp rate cut from the RBA in May 2014 (were previously calling for a cut in February) – “”It is our view that economic activity will remain soft over coming quarters and current economic optimism will fade, prompting the RBA to lower the cash rate again next year,””
- The index is 6 points higher than in October last year; is in line with its long run average
