Business Research & Insights

NAB’s Non-rural Commodity Price Index fell by around 7.0% in Q2

Our global forecasts are unchanged and we continue to expect soft global growth of only 3.0 to 3.1% between 2024 and 2026.

China’s growth slowed in Q2, with domestic demand remaining constrained and manufacturers relying on exports

NAB’s Non-rural Commodity Price Index declined in Q2

We have slightly revised our global economic outlook this month – with growth of 3.0% expected in 2024

How will China respond to the European tariffs on its electric vehicle exports?

NAB’s Non-rural Commodity Price Index is forecast to fall by 12.3% in 2024 and a further 12.6% in 2025 – led by softer prices for bulk commodities (iron ore and coal).

Commercial property sentiment rebounds as disparities in office conditions grow between states

Our global economic outlook is essentially unchanged – with slightly stronger conditions for both the Euro-zone and United Kingdom in 2024 offset by a weaker forecast for Japan.

Trade tensions continue to mount, with critics claiming that China is exporting its industrial overcapacity

We see our NAB commodity index falling substantially in 2024, despite higher forecasts for base metals and gold.

Our view for the global economy is unchanged – we expect global economic growth to slow to 2.9% in 2024