Australian Economy

Cross posted from The Conversation Simon Driver Professor of Astrophysics, University of Western Australia   Any nation that hopes to have a space program needs to be able to keep an eye on its orbiting assets at all times.

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

By Leith van Onselen Melbourne taxi drivers have this morning blockaded Bolte Bridge (linking the CBD to the airport) in protest to the legalisation of ridesharing services like Uber and what it perceives as inadequate compensation by the State Government.

By Leith van Onselen In the wake of the Trans-Pacific Partnership (TPP) debacle, Foreign Minister Julie Bishop has once again moved to reassure us that the Australia-US Free Trade Agreement (AUSFTA) is safe despite reports that the Trump Administration wants to junk the deal.

Hold your nose, peeps: Power cuts such as those in South Australia this week may be the wake-up call needed for governments to relax onshore gas restrictions, Santos chief Kevin Gallagher signalled.

From the ABC: The National Debt Helpline says it is buckling under an unprecedented number of calls from Australians seeking financial counselling.

By Leith van Onselen Cognitive dissonance clearly runs riot inside RBA Governor, Phil Lowe’s, head.

There is a lot of confusion and an unconscionable amount of politics swirling around the east coast power crisis today so I’ve tapped my sources to get some facts straight.

I like mining.

What a horrible mix of toxic politics, empty suits, ruthless rent-seekers and policy failure the east coast energy market has become.

By Leith van Onselen On Monday, ME Bank released its latest Household Financial Comfort Report of 1500 Australians, which revealed a widening gap between rich and poor and young and old, as well as lower overall financial comfort.

Fabulous piece today from BT’s Vimal Gor who really is a cut above.

From the AIG: The national construction industry experienced a slow start to 2017 with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) registering 47.7 points in January (readings below 50 points indicate contraction).

From Credit Suisse: Our central tendency forecasts are for: 1. 0% real GDP growth in CY17, and 2.5% growth in CY18. 2. 1.5% core (trimmed mean) CPI inflation in CY17 and 1.3% inflation in CY18.

Macquarie is spot on:  The February Board meeting will consider updated forecasts for growth and inflation before making the first rates decision of 2017. Over the days that follow, the RBA staff will make adjustments before publishing the February Statement on Monetary Policy (SoMP).

By Leith van Onselen Today’s retail sales figures should support Australia’s December quarter GDP when the national accounts are released early next month.

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of December, which registered a 0.1% fall in seasonally-adjusted sales over the month with annual sales clocking in at just 3.0% growth: In trend terms, annual retail sales growth clocked in at 3.2% and is flatlining.