ASX 200 LIVE: Australian shares to slip; Harvey Norman, Sandfire to report; China PMIs pending

Australian shares are set to edge higher, with sentiment helped by modest gains in New York. Bitcoin eases after rally. Follow updates here.

The US economy is poised to decelerate dramatically in the final three months of 2023, in line with a drop in consumer spending, according to Morgan Stanley.

“Real consumer spending is tracking 1.9 per cent quarter over quarter annualised growth in 3Q23. We estimate “Barbenheimer”, Taylor Swift’s “The Eras” tour, and Beyoncé’s “Renaissance” tour are combined contributing 0.7pp to consumption growth this quarter.

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