Australian Economy

By Leith van Onselen Several big name economists have questioned the data used by the ALP and the ACTU in arguing that corporate profits are growing at a much faster pace than wages.

From the AIG comes the Construction PMI: ▪ The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 1.5 points to 54.3 points in January (readings above 50 points indicate expansion).

By Leith van Onselen The frequency of #SardineSydney stories in the mainstream media has escalated as the city’s population has swelled way above the capacity of the road, public transport and housing systems.

By Leith van Onselen Yesterday’s retail sales figures should detract from Australia’s September quarter GDP when the national accounts are released early next month.

Cross-posted from The Conversation: While companies might reap significant gains in productivity from automating certain jobs, this won’t necessarily lead to pay rises for everyone.

By Leith van Onselen Last night’s Q&A featured the below question by MB reader Karl Nixon to Deloitte-Access Economics’ chief economist Chris Richardson: Chris, you commented a few years ago, that our younger generation should be rioting in the streets due to growing inter-generational inequality.

From the man with the plan: Atlassian co-founder Scott Farquhar has called on the federal government to introduce a visa for highly skilled foreign workers who can help generate jobs in Australia.

By Leith van Onselen Ed Gannon – publisher of The Weekly Times’ – came out hard yesterday demanding that federal Labor support the newly signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), dubbed by MB as TPP 2.0: HERE we go again.

By Leith van Onselen The lack of planning and foresight to cope with the never-ending population (immigration) deluge into Australia’s big cities never ceases to amaze.

By Leith van Onselen Following in the wake of October’s closure of Holden’s and Toyota’s car assembly operations, the last passenger bus manufacturer in Sydney is set to shutter.

Via ANZ: It is encouraging to see a strong recovery in Job Ads last month after a slight retreat in December.

Via Martin North’s DFA today: Digital Finance Analytics has released the January 2018 update of our Household Financial Confidence Index, using data from our rolling 52,000 household surveys.

Via the SMH: Australian households could be paying as much as $430 more for electricity by the end of next year unless wholesale gas prices are brought under control, according to a new report that warns the Turnbull government’s energy policies are falling short.

By Leith van Onselen Back in October, the lobby group representing migration agents warned that South Australia’s population growth could fall to zero, and economic problems would worsen, following visa reforms by the federal government.

From the AIG: • The Australian Industry Group Australian Performance of Services Index (Australian PSI® ) increased by 2.9 points to 54.9 points in January 2018 (seasonally adjusted), indicating a faster rate of expansion from late 2017.

Via The Australian: As the politics of disruption intensify in Australia the policy debate sinks into more regression and populism, with the Coalition and Labor running competing growth agendas and Bill Shorten flexing his anti-business, anti-private enterprise and anti-coal muscles.