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Australia Morning News: House Prices; RBA Decision; China Economy, Birkenstocks

July 31, 2023 at 6:42 p.m. EDT

Good morning, Ainslie and Matt will be here on the first day of August. The RBA meets later today, but first…

Today’s must reads:
• House price growth slowed in July
• China’s sluggish growth
• Futures point to a positive open

Australia property price Growth slowed in July as housing supply picked up, suggesting sellers are taking advantage of current market strength, including those struggling to meet commitments after rapid rate hikes. Mortgage holders could face even more problems as economists and money markets disagree over whether the Reserve Bank of Australia will hike rates at its meeting later Tuesday.

Australian stock futures indicate a strong opening
Global equities closed higher on the last day of July. The S&P 500 posted its longest monthly gains streak since August 2021, defying concerns of an overheated market.

Economic growth in Australia China is the largest trading partner faded after decades of accelerated expansion. The much-anticipated post-pandemic recovery appears to have failed and the data is showing warning signs across the economy. This time, the government’s traditional tools for turning course may not be viable options. In the Bloomberg Originals mini-documentary China’s Great Slowdown, we examine why China’s economic slowdown could have global ripples.

waste from wine production According to a study by Monash University, it could be used in dietary supplements. Researchers found that compounds in wine by-products can be converted into a liquid that tastes and smells like weak grape juice and could have some health benefits. The polyphenols, which include resveratrol and anthocyanins, among others, have been linked to protection against health conditions ranging from cancer to cardiovascular disease to diabetes in some preliminary studies.


Home price growth slowing: briefing for Australia

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