The July NAB business survey is out and is poor:
Confidence was OK. Conditions were ordinary. Employment continues to soften:
Leading indicators remain weak:
Capacity utilisation is crumbling:
The consumer is fooked. Mining does not see what’s coming:
The consumer is royally-fooked in fact:
Time to smash wages, ScoMo? Full report.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Latest posts by Houses and Holes (see all)
- Joye rides to Recessionberg’s rescue - December 6, 2019
- US jobs preview - December 6, 2019
- Russian gas pipe slammed further up Aussie gas cartel - December 6, 2019