Australian Economy

By Leith van Onselen RBA Governor, Phil Lowe, must live on another planet to be so out of touch.

Via CBA: Australian private sector output growth recovered some ground in November, with sharper increases in both the manufacturing and service sectors.

By Leith van Onselen Twenty years ago, in 1998, the Australian Bureau of Statistics (ABS) forecast that Australia’s population would hit between 23.5 and 26.4 million by the year 2051.

By Leith van Onselen Last Friday, the Australian Bureau of Statistics (ABS) released its State Accounts for 2017-18, which contained some interesting data on the trade performance of Australia’s states and territories.

By Leith van Onselen The Victorian Liberals have pledged to sell off Melbourne’s sewage treatment service to fund major rail and road projects, if elected on Saturday.

By Leith van Onselen Liberal senator, Dean Smith, has called for a parliamentary inquiry into the nation’s population policy and the reinstatement of parliament’s long-term strategies committee, which was disbanded in 1996.

It’s a skills shortage and racism disaster at ITNews!

Via ANZ: Momentum slowed further in the September quarter across most of Australia.

Via Westpac: • The six month annualised growth rate in the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, , fell from 0.41% in September to +0.08% in October.

By Leith van Onselen Late last week, Tim Colebatch wrote a nice dissection of Victoria’s economy, which is powering along due to unprecedented population growth: But both the infrastructure boom and the economic boom reflect the defining reality of Victoria now.

By Leith van Onselen In the wake of last night’s token announced cut to immigration by Prime Minister Scott Morrison, the HIA has spat the dummy: “The economic growth over the past decade has been built on the back of strong growth in skilled migration.

By Leith van Onselen Everybody on the inside knows that the IMF’s Article IV consultations are basically a group project written by the IMF, Treasury and the RBA.

By Leith van Onselen This site has spent a lot of effort showcasing the collapse in Australian households’ income growth, which has been evident across a variety of economic data, including: 1.

From Bloxo today: A cooling was expected, but the price falls have been larger than previously forecast.

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for September, which continued to show a trend rise in the number of inbound visitors, with both Chinese arrivals and student arrivals hitting an all-time high.

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of September, which again posted turbo-charged net annual permanent and long-term arrivals.

By Leith van Onselen Roy Morgan’s annual Christmas retail sales forecasts, conducted in conjunction with the Australian Retailers Association, suggest Australians will spend nearly $51.5 billion across retail stores during the 46-day Christmas trading period from 9 November to 24 December.

By Leith van Onselen Like clockwork, Australia’s biggest retailers have joined Australia’s biggest property developers in rejecting calls to cut Australia’s immigration intake.