Australian Economy

Victoria recorded 35 COVID-19 infections overnight alongside another 7 deaths.

Business lobby, the Committee for Economic Development of Australia (CEDA), has long been a shill for the ‘Big Australia’ mass immigration policy, frequently releasing illogical and contradictory ‘research’ supporting the cause.

AMP chief economist, Shane Oliver, has released some interesting charts on the post-COVID recoveries taking place in the US and Australia.

Economist Jason Murphy believes the unwinding of emergency income support from the end of this month will expose the fragility of Australia’s recession economy: In just 14 days time, hundreds of thousands of Australians will have their weekly earnings slashed – and then the real financial pain will begin.

Around 15% of jobs have been lost in small and medium enterprises (SME) since mid-March because of COVID-19, with Victoria hardest hit, according to consulting firm Taylor Fry.

Cracks are appearing within the Victorian Government over the state’s bungled COVID-19 response.

Earlier this week, we reported how the Morrison Government’s JobKeeper subsidy has been an absolute boon for Australian business owners, juicing company dividends and profits.

Victoria recorded 43 new COVID-19 infections overnight alongside 9 deaths.

Via Stephen Mayne at Crikey: If Scott Morrison and Josh Frydenberg really want to pressure Dan Andrews to lift Victoria’s lockdown early, they’ve got a very big card they could play: financial support.

From Deloitte: Deloitte’s latest Retail Forecasts shows that retail spending has fallen at the fastest rate in nearly 20 years, as COVID-19 cast a cloud over the consumer landscape.

Victoria recorded 51 new COVID-19 infections overnight along with another 7 deaths.

From the ABS: Total filled jobs fell by 6.4 per cent and hours worked fell by 9.8 per cent between the March and June quarters, according to figures released today by the Australian Bureau of Statistics (ABS).

At around one-third of total exports, iron ore is not quite Chile’s copper or Norways’s oil at roughly half their exports, but it’s mighty big: It gets close to half if you add coking coal, which is the same trade.

Victoria’s COVID-19 infections has risen again, with 76 cases recorded overnight alongside another 11 deaths.

Via Westpac: We suspected last month’s 9.5% collapse in the Index was an over-reaction but this month’s 18% rebound is a pleasant surprise nonetheless.

There should be.