Economic focus on house prices, car sales

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The Economic Events Log will start slowly in the first week of the new year, with major trade and employment figures from the Australian Bureau of Statistics only due later this month.

Data of interest this week will provide insight into the state of the housing market, the development of job vacancies and motor vehicle sales.

On Tuesday, the highly regarded CoreLogic Home Value Index will be released, with some expectations home prices rising again in December.

Home prices rose 22.2 percent over the year – their highest annual growth rate in 32 years. However, prices rose only 1.3 percent in November, a 10-month low.

ANZ will release its monthly job vacancies report for December on Wednesday, an indicator of future job growth. Ads increased 7.4% in November to a 13-year high and 52.5% from a year ago.

On Thursday, the Federal Chamber of Automotive Industries released December figures for new vehicle sales.

They will be watched with interest as they come at a time when the Australian new car market continues to struggle with supply issues, with sales down 15% in November.

But the industry remains on track to sell more than one million vehicles by 2021, a significant improvement over the previous year.

Meanwhile, Australian stocks are expected to start a shortened trading week after Wall Street ended lower on Friday.

The Dow Jones Industrial Average lost 59.78 points, or 0.16% to end at 36,338.3 points, while the S&P 500 lost 12.55 points, or 0.26%, to 4,766.18 and the Nasdaq Composite lost 96.59 points, or 0.61%, to 15,644.97.

Australian equity futures fell 88 points, or 1.18%, to 7,347 on Friday.

The benchmark S & P / ASX200 closed the shortened New Years Eve session 68.8 points, or 0.92%, down to 7,444.6 points. He still finished with an exceptional 13% gains during the year.

The local market will remain closed on Monday.


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