What to Watch - Week of 1 September

Taylor Nugent | Markets Research 

Past Week

• Monthly CPI Indicator jumped, driven by timing of subsidy payments and volatile travel prices
• RBA pricing little changed
• Q2 Investment partials were on the soft side ahead of GDP this coming week

Week ahead

• We see Australia Q2 GDP (Wednesday) rising 0.3% qoq (consensus 0.5% qoq) though partial data Monday and Tuesday firm estimates (See Preview). RBA’s Bullock speaks Wednesday evening, and some July monthly activity indicators fill out the calendar.
• In NZ, data include Residential Building Consents (Monday), Q2 trade data (Tuesday), and Q2 Building Work Put in Place (Thursday).
• In the US, Payrolls on Friday headlines, the key release ahead of the 17 September FOMC. Also out are ISMs, the Beige Book, and a smattering of other labour market indicators.
• In Europe, after country level CPIs this evening, the key eurozone wide August preliminary CPI is on Tuesday. Final PMIs are also published.
• UK Retail Sales for July are out Friday. BoE’s Bailey appears in from of Parliament’s Treasury Committee Wednesday
• In China, a diplomatic summit takes place Sunday through Monday. PMIs for August are out during the week, beginning with the official indicators on Sunday.
• Japan sees labour cash earnings numbers on Friday.

Read the full report here. 

Also in the What to Watch

• Select Economic Events Preview 
• Weekly Calendar 
• NAB Research Forecasts 

All prices and analysis at 29 August 2025.  This information has been prepared by National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 ("NAB"). The content is distributed by WealthHub Securities Limited (WSL) (ABN 83 089 718 249)(AFSL No. 230704). WSL is a Market Participant under the ASIC Market Integrity Rules and a wholly owned subsidiary of National Australia Bank Limited (ABN 12 004 044 937)(AFSL No. 230686) (NAB). NAB doesn’t guarantee its subsidiaries’ obligations or performance, or the products or services its subsidiaries offer.  This material is intended to provide general advice only. It has been prepared without having regard to or taking into account any particular investor’s objectives, financial situation and/or needs. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice.  Past performance is not a reliable indicator of future performance.  Any comments, suggestions or views presented do not reflect the views of WSL and/or NAB.  Subject to any terms implied by law and which cannot be excluded, neither WSL nor NAB shall be liable for any errors, omissions, defects or misrepresentations in the information or general advice including any third party sourced data (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (whether direct or indirect) suffered by persons who use or rely on the general advice or information. If any law prohibits the exclusion of such liability, WSL and NAB limit its liability to the re-supply of the information, provided that such limitation is permitted by law and is fair and reasonable. For more information, please click here.