Australian Economy

Via Reneweconomy: In this note I apply elementary statistical analysis to squeeze historic wholesale price data to see if they will offer a confession on why Victoria’s demand-weighted average wholesale electricity market price rose by 46% in 2016, compared to 2015.

By Leith van Onselen The AFR is today hosting a business summit, where panelists have been asked to explain what is behind the rise of so-called “populism” and whether it could come to Australia.

The war between Big Gas and Australia is heating up fast but it’s not at all clear which side the Do-nothing Government is on.

By Leith van Onselen The December quarter national accounts was a sobering experience for Australian workers.

By Leith van Onselen Labor’s treasury spokesman, Chris Bowen, will address the Lowy Institute today whereby he will argue for Australia to pursue larger-scale multilateral free trade deals rather than bi-lateral and regional deals.

By Leith van Onselen Prime Minister Malcolm Turnbull has today come out in support of the Fair Work Commission’s (FWCs) decision to cut Sunday penalty rates, citing supposed economic benefits that will arise from the decision.

The third AIG PMI is out: The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) lifted by 5.4 points to 53.1 points in February (readings above 50 points indicate expansion).

By Leith van Onselen After pinching bronze last quarter and taking the mantle of the world’s third most indebted households, Australia has risen to second place according to the latest data from the Bank for International Settlements (BIS).

At the AFR, manufacturers are howling: Shell-shocked businesses are reassessing investments and jobs after being slugged by huge increases in their electricity bills driven by the imminent closure of the giant Hazelwood power station combined with hot weather and rising “green” power costs.

By Leith van Onselen Over the past few years, Australian Competition and Consumer Commission (ACCC) head, Rod Sims, has issued a spate of warnings about, and voiced opposition to asset privatisations.

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of January, which registered a 0.4% rise in seasonally-adjusted sales over the month with annual sales clocking in at 3.1% growth: In trend terms, annual retail sales growth has flatlined at 3.2%.

The Melbourne Institute monthly inflation gauge is out and crashed back to earth down -0.3% in February after several strong months.

By Leith van Onselen Fairfax’s Jessica Irvine has returned with another puff piece hailing Australia’s miracle ‘ponzi’ economy: Australia is on the cusp of achieving something truly remarkable – not to mention unprecedented in modern world history.

By Leith van Onselen Australia’s real estate treasurer, Scott Morrison, yesterday ruled-out cutting Australia’s mass immigration program, citing spurious demographic arguments.

By Leith van Onselen Why is it that politicians only ever tell the truth after they have resigned from office? Today, former Trade Minister Andrew Robb has admitted that the once hailed super trade deal, the Trans-Pacific Partnership (TPP), was actually a pretty useless agreement for Australia.

Global Macro / Markets / Investing: What If The 1980-Secular Bull Is Still Running?

Via Deutsche: From Q1-17, the ABS will add ‘attached dwellings’ (i.e. apartments and semis) to the measure of ‘new dwelling purchase’ in the CPI to better capture the trend towards higher-density living.

From the AIG:  The Australian Industry Group Australian Performance of Services Index (Australian PSI®) moderated in February, with the index falling 5.5 points to 49.0 (results above 50 points indicate expansion, with higher numbers indicating a stronger rate of expansion).

Make no mistake, the biggest issue being addressed right now is wealth inequity across society, classes of workers and generations.

The excellent Credit Suisse today offers some deep thinking on the subject of domestic gas  reservation: For many years now we have been talking about the challenges faced by the East Coast gas market.

As the mighty gas gouge threatens the east coast economy, the ironies abound.

By Ross Elliott “We are living in a global suburban age… While statistics demonstrate that the amount of the world population in metropolitan areas is rapidly increasing, rarely is it understood that the bulk of this growth occurs in the suburbanized peripheries of cities.