Earlier this week, unions at Chevron's Gorgon and Wheatstone LNG plants in Australia announced their intent to begin strike action from September 7th. Although the industrial dispute will have a minimal impact on the domestic economy, it bodes poorly for the country's business environment. Elsewhere, new construction work data revealed that dwellings investment fell in Q2. Moreover, a concurrent slump in building approvals suggests that the downturn has much further to run.
We are publishing this Weekly one day earlier than usual because the Singapore office is closed for the Presidential Election on Friday, 1st September 2023.
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