Australian Economy

Sydney restauranteurs have urged the federal government to increase immigration to alleviate the alleged labour shortages in the industry.

The head of Deloitte Access Economics, Pradeep Philip, gave one of the best summaries of Wednesday’s Q3 national accounts release from the Australian Bureau of Statistics (ABS), noting that the private sector was being “clobbered” and the economy was “stuck in the mud and spinning its wheels”.

From the Productivity Commission today.

On Wednesday, the Australian Bureau of Statistics (ABS) released the Q3 national accounts, revealing that real per capita GDP has fallen for seven consecutive quarters.

The latest data from CBA, released last month, showed that older Australians are spending freely while younger Australians are cutting back.

The Q3 national accounts for Australia were another shocker, with the economy growing by only 0.3% over the quarter and by 0.8% over the year.

New Equifax data shows that 32% of Australians now use Buy Now Pay Later (BNPL) or credit cards for everyday essentials—up from 23% in 2022.

Australians have experienced the sharpest fall in material living standards on record, with real household disposable incomes falling by around 8% over the two years to Q2 2024.

The Australian Bureau of Statistics (ABS) released data on the value of the nation’s dwelling stock.

For years, MacroBusiness has argued that too many Australians are studying at university instead of TAFE and vocational education.

Earlier this year, The AFR posted the following chart showing how Australia has benefited the most from global commodity prices over the last 20 years: On Friday, Justin Fabo at Antipodean Macro posted the following chart showing mining companies’ massive profits in Australia.

The Australian Bureau of Statistics (ABS) today released retail sales data for October, which posted a third consecutive rise.

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Australia is the energy superidiot.

Last week, Statistics Canada released the Q3 national accounts, revealing that the economy grew at an annualised rate of only 1.0% in the third quarter.

The LNP should make up some debt trucks and print the following chart on the side for the looming election.

Belinda Allen, Senior Economist at CBA, dissects today’s Capex release from the ABS.

Australians are experiencing the sharpest decline in real household disposable incomes on record, as illustrated below.

This century saw an explosion of cafes around Australia.

Westpac’s credit card index is going absolutely nowhere.

By Stephen Saunders Stabilising population, argues the report Big thirsty Australia, is the safest and cheapest avenue to meet arid Australia’s water needs. It’s not what government wants to hear, is it? Our water (and urban) planners are whizzes at supply-side solutions.

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Australia’s economic growth is a mirage, powered by unprecedented immigration volumes and record public spending.