Australian Economy

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for October, which continued to show a trend rise in the number of inbound tourists, with Chinese arrivals continuing to boom.

By Leith van Onselen The Australian Bureau of Statistics (ABS) yesterday released visitor arrivals and departures data for the month of October, which registered a small decline in annual immigration.

By Leith van Onselen Last week’s national accounts release for the September quarter confirmed that Australia’s FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – continues to eat its host, surging to a new record high (12.0%) share of the Australian economy (see next chart).

Weeoo, weeoo, weeoo.

From ANZ today: ANZ today announced its variable Residential Investment Property Loan Index Rate would increase by 0.08%pa to 5.60%pa in response to rising funding costs and changing market conditions.

By Leith van Onselen Since I work from home in the suburbs, I rarely venture into Melbourne’s CBD anymore.

By Leith van Onselen Last month, Infrastructure Victoria warned that Melbourne is facing eternal gridlock as its population soars way beyond the capacity of the road system, and pushed for a new road pricing regime to better manage demand.

Goldman has done a huge turn around on Australia in the past few weeks moving from bearish to bullish across the spectrum.

By Leith van Onselen The Reserve Bank of Australia (RBA) yesterday released real household disposable income (HDI) data, derived from the September quarter national accounts (released Wednesday), which revealed that real per capita HDI fell by 0.1% over the quarter but were up by 0.4% over the past year.

From Capital Economics: After yesterday’s news that GDP fell in the third quarter, this means the chances of a recession — two consecutive quarters of falling GDP — have just increased.

By Leith van Onselen WA Premier, Colin Barnett, has downplayed the latest national accounts data showing the state’s economy suffered its biggest contraction since 1989.

Yesterday was not only the death knell for Australian hopes and dreams of its glorious economic growth future.

By Leith van Onselen In the wake of Wednesday’s national accounts shocker, I have once again deflated three measures of the domestic economy, as provided in the September quarter national accounts, by the ABS’ population data, in order to ascertain the underlying strength of the domestic economy in real per capita trend terms.

By Alpha Beta Strategy and Economics GDP data released yesterday shows the Australian economy grew at a disappointing -0.5 per cent over the last quarter or 1.8 per cent over the year.

From Barnaby Dunce, deputy Prime Minister of QLD: Deputy Prime Minister [of QLD] and Nationals leader Barnaby Joyce has backed federal financial support for Indian company Adani Group’s $16.5 billion Carmichael mine.

The AEMO has released an alarming new report on the eastern gas market: The Australian Energy Market Operator’s (AEMO) third annual National Gas Forecasting Report (NGFR) released today highlights some of the uncertainties and challenges complicating gas demand forecasts for eastern and south-eastern Australia’s interconnected gas markets over the next 20 years.

By Leith van Onselen The lack of planning and foresight to cope with the never-ending population (immigration) influx never ceases to amaze.

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released the national accounts for the September quarter, which registered a 0.5% fall in real GDP over the quarter and only a 1.8% rise over the year, missing economists’ expectations of a 0.2% decline.