Where Micro Influences Macro: Australia Macro+ Week Ahead | Asia Pacific

研报英文原文证据摘录

Where Micro Influences Macro: Australia Macro+ Week Ahead | Asia Pacific

Idea

August 2, 2026 11:00 PM GMT

Morgan Stanley Australia Limited+MAustralia Macro+ Week Ahead | Asia Pacific Chris Nicol

Equity Strategist

Where Micro Influences Macro Chris.Nicol@morganstanley.comChris Read +61 3 9256-8909

Equity Strategist and Australia Economist

Chris.Read@morganstanley.com +61 2 9770-1513

Results season begins and with it comes a raft of commentary Antony Conte

and outlook that can influence key assumptions on macro policy EquityAntony.Conte@morganstanley.comStrategist +61 2 9770-1544

and economic outlook. We look at how five macro variables Isabel Black

could be influenced this season - Credit Growth, Labour Force, Isabel.Black@morganstanley.com +61 2 9775-2519

Capex, Consumption and Inflation.

What's Topical? Corporate Liaison: Equity results seasons can provide meaningful

insight into the calibration and potential setting of macro assumptions and outlook

as well as influence on expected policy paths. This FY26 season will be a crucial

liaison period and we identify five key macro variables that we believe can be

influenced by C suite narrative and outlook over August. Banks sector commentary Exhibit 1 : Macro catalysts for the week

on credit growth outlook will be tested against views of a likely deleveraging post ahead

tax changes; AI Adoption collides with a slowing economy and catalysts for labour MondayRelease3 August Period MSe Consensus Prev.

CN Caixin Manufacturing PMI Jul -- 52.0 51.7

cost adjustments; company intentions for capex in rate agnostic sectors are critical TuesdayAU Household4 August Spending Jun 0.2%M, 5.3%Y 0.2%M, 5.3%Y 1.3%M, 5.5%Y