Clues on household spending behaviour and producer price moves will further flesh out the economic picture ahead of the Reserve Bank of Australia’s meeting next week.
Retail trade data suggested the influence on spending was muted and Friday’s more comprehensive household spending indicator will provide more information.
Consumer behaviour has come under scrutiny following stage-three tax cuts, with a big boost in spending an unwelcome development in the inflation fight, were it to materialise.
The Australian Bureau of Statistics will also release producer price data, lending indicators and a new childcare services cost index on Friday.
Inflationary pressures and weak consumer spending have been battering small- and medium-sized businesses yet National Australia Bank research suggests cyber attacks, burdensome red tape and difficulties hiring and holding onto staff were top concerns.
Digitisation and AI, access to capital and supply chain resilience were also keeping business owners up at night.
NAB head of small business Krissie Jones said smaller firms typically found it harder to fill empty positions when compared to larger players.
Vacancy fill rates were sitting at around 52 per cent, on average, for small businesses, compared to 65 per cent for large companies.
The bank suggested setting up a small employer concierge scheme linked to the immigration system, among a raft of other recommendations.
“As we see new migrants (coming) into Australia, often bringing different skills, just trying to match up what the business needs with those skills would be really helpful and make a big difference,” Ms Jones told AAP.
The NAB report also recommended greater prioritisation of construction workers within the existing mix of skilled migration to improve the labour supply in the strained construction industry.
