Group 1 - The Westpac Bank and Melbourne Institute report indicates that the consumer confidence index in Australia rose by 0.6% to 93.1 points in July 2025, following a 0.5% increase to 92.6 points in June 2025 [1] - Prior to the Reserve Bank of Australia's decision to maintain the benchmark interest rate, the consumer confidence index was as high as 95.6 points, but dropped to 92 points after the announcement, reflecting a cautious pessimism among consumers [1][2] - The survey revealed that the sub-index predicting economic conditions for the next year increased by 1.8% to 94.1 points, while the five-year economic outlook sub-index decreased by 2.8% to 93.4 points [2] Group 2 - The report highlighted that the index measuring household financial conditions for the next year rose by 2.6% to 101.4 points, while the index reflecting changes in household financial conditions over the past year increased by 5% to 79.2 points [2] - The housing market sentiment index fell by 5.1% to 88.5 points, and the unemployment expectations index rose by 1.1% to 128.7 points, indicating growing concerns about job security [2] - The Reserve Bank of Australia is expected to hold its next monetary policy meeting on August 11-12, with potential interest rate cuts anticipated if inflation data aligns with the target range of 2-3% [3]

Core Insights - Overall consumer purchasing willingness has declined, but the indices for car purchases and durable goods purchases still show some positive performance, indicating consumer confidence in certain areas of spending [1][2] Consumer Confidence Index - The Shanghai Consumer Confidence Index for Q2 2025 is reported at 105.4 points, a decrease of 6.0 points from the previous quarter and a decrease of 6.9 points year-on-year [1] - The consumer evaluation index stands at 105.2 points, down 6.2 points quarter-on-quarter and down 7.7 points year-on-year [1] - The consumer expectation index is at 105.6 points, reflecting a quarter-on-quarter decline of 5.8 points and a year-on-year decline of 6.1 points [1] Purchasing Willingness Index - The purchasing willingness index is at 98.8 points, down 5.5 points quarter-on-quarter but up 16.1 points year-on-year [2] - The home buying index is at 69.9 points, showing a significant quarter-on-quarter decline of 16.3 points but a year-on-year increase of 5.7 points [2] - The car buying index is at 100.6 points, with a quarter-on-quarter increase of 1.9 points and a year-on-year increase of 12.3 points [2] - The durable goods buying index is at 126.0 points, down 2.0 points quarter-on-quarter but up 30.3 points year-on-year, indicating strong confidence in this category [2] Purchasing Expectation Index - The purchasing expectation index is at 87.8 points, down 4.6 points quarter-on-quarter but up 5.0 points year-on-year [2] - The home buying expectation index is at 74.6 points, down 11.5 points from the previous quarter but up 4.1 points year-on-year [2] - The car buying expectation index is at 101.0 points, reflecting a quarter-on-quarter increase of 2.3 points and a year-on-year increase of 5.7 points [2] Analysis of Decline - The decline in the consumer confidence index may be attributed to a pullback after significant increases in previous quarters, particularly in purchasing willingness indices [4] - Key indicators related to livelihood, such as income evaluation and employment situation evaluation, have shown notable declines, which may weaken consumer confidence [4] - Global economic uncertainties, including U.S. tariff increases, have also contributed to the decline in consumer confidence [4] Recommendations - It is suggested to implement targeted policies to support consumer sectors like automobiles and durable goods, such as optimizing subsidies for new energy vehicles and improving the trade-in service system for durable goods [4] - There is a need to stabilize employment and income expectations to strengthen the foundation of consumer confidence, as both income evaluation and employment situation indices have significantly decreased [5]

Group 1 - The core consumer confidence index for Australia in July is reported at 93.1, an increase from the previous value of 92.6 [1]

Core Viewpoint - The Swiss consumer confidence index for June is reported at -32.2, which is better than the expected -35 and the previous value of -36.5 [1] Group 1 - The current consumer confidence index indicates a slight improvement in consumer sentiment compared to previous months [1] - The index value of -32.2 suggests that consumers remain pessimistic, but the decrease in negativity from -36.5 to -32.2 may signal a potential stabilization in consumer outlook [1]

Group 1 - The core point of the article is that Switzerland's consumer confidence index for June is reported at -32.2, which is better than the expected -35 [1]

Group 1 - The Swiss consumer confidence index for June is set to be released in ten minutes [1]

Group 1 - Key Point 1: Focus on the economic outlook as Federal Reserve officials, including Waller and Daly, are scheduled to speak on July 11, 2025 [2] - Key Point 2: Key economic data releases from the UK include May GDP, manufacturing output, trade balance, and industrial output, all set to be announced at 14:00 [2] - Key Point 3: France's final CPI for June will be released at 14:45, while Switzerland's consumer confidence index for June will be available at 15:00 [2] Group 2 - Key Point 1: The IEA will publish its monthly oil market report at 16:00, which may provide insights into global oil supply and demand trends [2] - Key Point 2: Canada's employment numbers for June will be released at 20:30, which could impact market sentiment regarding the Canadian economy [2] - Key Point 3: The total number of oil rigs in the US will be reported for the week ending July 11 at 01:00 the following day, indicating activity levels in the oil sector [2]

Group 1 - The consumer confidence index in Thailand for June is reported at 52.7, which is a decrease from May's figure of 54.2 [1]

Group 1 - The consumer confidence index in Indonesia for June is reported at 117.8, which shows a slight increase from May's index of 117.5 [1]

Core Points - The recent passage of the "Big Beautiful Act" in the U.S. Congress reflects a significant shift towards austerity measures that disproportionately affect lower-income individuals and workers [4][10] - The act extends tax benefits for the wealthy while cutting food assistance and medical subsidies for the poor, indicating a regression to a more conservative societal structure reminiscent of the Cold War era [6][10][11] - The U.S. is facing a growing national debt, nearing $35 trillion, with interest payments exceeding $1 trillion annually, prompting the need for spending cuts [9] Summary by Sections Legislative Changes - The "Big Beautiful Act" passed with a narrow vote of 218 to 214, with no Democratic votes in favor and only two Republicans opposing [4] - Key provisions include the extension of tax benefits for the wealthy and cuts to food assistance and medical subsidies for the poor [4][10] Economic Context - Over the past decade, average wage growth in the U.S. was around 3% annually before the pandemic, but real purchasing power has stagnated despite nominal increases of over 5% in recent years [6] - The wealth of the top 10% of Americans increased by over 15% in the past year, driven by stock market and real estate gains, while lower-income households have seen their savings diminish [7] Social Implications - The cuts to welfare programs, including a 4% reduction in food assistance and over 1% in children's health insurance subsidies, suggest a return to a society where the working poor must work harder for less support [10][11] - The current economic environment is characterized by a strong dollar and high interest rates, which may lead to further cuts in education and housing subsidies if fiscal pressures continue [13] Consumer Sentiment - Despite rising stock markets, consumer confidence remains low, with many Americans expecting negative economic conditions in the near future [15] - The passage of the "Big Beautiful Act" indicates a prioritization of corporate interests and fiscal strength over the welfare of ordinary workers, raising concerns about the long-term societal impact [15][17]