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Salary Data Points to New Policy

UK Officials Concerned on Sterling, Jobs

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Wages and earnings are slowing for the UK recently, with many companies choosing to trim their overhead on Brexit fears. The next few months are important for the country’s policy, and the central bank will remain vigilant.

UK Salary Growth Slows Down


Average earnings in the UK reported declines for the month of July as figures have failed to meet expectations and previous month’s values. Including bonuses, the Office of National Statistics reported a slowdown when compared to the previous month as the UK referendum vote continues to have companies keeping their guard up. The recent weakness of the sterling pound alongside the weak data on salary growth continue to point towards a decelerating growth rate. Even if unemployment has remained intact after the referendum, people filing for unemployment benefits came in higher than expected, a figure that could be reflected on next month’s rate.

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South African Retail Sales Fail To Meet Expectations


Year over year retail sales up to the month of July have slowed to 2014 levels in South Africa. Statistics South Africa released values of 0.80% while revised downwards June’s numbers to 1.40%. As the emerging economy is fighting to avoid a recession, while in the meantime face natural disasters, a decline in consumer spending clouds an increase in growth rate. Surrounded by high unemployment levels and surging inflation, the South African Reserve Bank continues to float in the doldrums encompassing the South African nation. After raising interest rates 4 times in a time period of a little over a year, raising them even higher in order to combat climbing consumer prices eventually will hurt the economy as central bank officials convene on the 22nd of September to sway policies.

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New Zealand Walks On Stable Path


Gross Domestic Product in New Zealand remained unchanged over the second quarter in the three months to June. Statistics New Zealand has confirmed that the economy grew the same pace as it did over the first quarter at 0.90%. The Reserve Bank of New Zealand has cut interest rates to the lowest levels in August in an effort to mitigate a slowdown in growth but at the same time put efforts in lifting inflation that continues to remain at near zero levels, far from the central banks objective.

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Australian Unemployment Declines


Unemployment in Australia has declined for the month of August, dropping one step below previous month’s values and expectations. The Australian Bureau of Statistics noted a decline from 5.70% to 5.60%, a positive statistics that could be mirrored from the efforts of the Reserve Bank of Australia having lowered rates to help boost the economy. The expectations will also lift pressures to the new central bank Governor Philip Lowe, which will take his place on the 18th of September, having him pick up a healthy economy in his hands.

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