China’s stable growth continued in Q3, but supported by another credit binge.

The NAB Quarterly Business Survey showed a continuation of the very upbeat conditions for firms into the September quarter.

Overall sentiment in commercial property markets moderated for the second straight quarter, with NAB’s Commercial Property Index down 5 points to +18 in Q3, but still well above long-term average levels (+2).

NAB’s proprietary indicator of Australian retail sales, the NAB Cashless Retail Sales Index, reveals a rebound in spending in the month of September.

Economic growth in most states is expected to strengthen somewhat in 2017-18 before moderating a little in 2018-19 as dwelling investment and LNG exports peak.

The index tracks 28 commodities weighted by the relative size of each commodity in the Australian agricultural sector.

Australian housing market sentiment lifted over the third quarter of 2017, supported mainly by a large increase in the number of property experts reporting positive rental growth in the quarter and continued house price growth in most states.

For Australia, outcomes in the September NAB Monthly Business Survey were generally upbeat. Business conditions remain rock steady at levels close to their multi-year highs, but business confidence rose only modestly after a big fall last month.

Global growth rising toward trend pace as advanced economies lift.

Repurposing an old tool – a new life for the Required Reserve Ratio.

The effects of the recent major Hurricanes affecting the US are clearly evident in some of the economic data.

Overall we are expecting that growth rates will continue to moderate across the combined capital cities.

Balancing multiple objectives, as business remains strong and consumers cautious.

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