Migration - Tourism - Australian Wages - Home Depot

Devon Funds Head of Retail Greg Smith discusses with ZB’s Mike Hosking some less than ideal news on the net migration front with numbers cooling, while the “brain drain” is continuing at a record pace. Tourism is also losing steam, but the pastures are becoming slightly less greener over the Tasman with wage growth easing. He also looks at why investors reacted positively to Home Depot’s results in the US, with the DIY giant beating estimates but lowering the outlook. For more market insights and our terms and conditions, visit www.devonfunds.co.nz