Consumer spending is up 5.6% over the past 12 months.
![NAB Economics Monthly Data Insights – June 2024](https://business.nab.com.au/wp-content/uploads/2022/11/BRI_Main_757x568_Stream-4_9@2x-934x654.png)
Insight
Overall, the heightened volatility in global financial markets associated with central bank decisions in the US and China has weighed on commodity prices. The slowdown in the Chinese economy is also gaining traction in markets and further weakens demand prospects.
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