Australian Economy

In early 2010 I wrote at Business Spectator that I did not think that the time had yet come for the reckoning of the Great Australian Housing Bubble.

By Leith van Onselen It seems the Coalition’s draconian internet policy is being driven by Attorney General, George Brandis, with Communications Minister, Malcolm Turnbull, taking a far more measured approach is an interview yesterday on ABC Radio.

By Leith van Onselen The Australian Bureau of Statistics (ABS) released export and import prices for the June quarter, which portends big falls in Australia’s terms-of-trade when the national accounts are released next month.

From the quarterly Deloitte Access Economics Investment Monitor out today: Holding pattern As the Australian economy continues its transition away from growth led by investment in the resources sector, there are signs that investment in other sectors may lift over the coming year.

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released its annual motor vehicle census (MVC), which revealed that Australian’s affection for private transport shows no sign of slowing, with the total number of registered vehicles and the per capita number of vehicles rising more strongly than population growth.

By Leith van Onselen Employment Minister, Eric Abetz, has acknowledged business’ criticism that its beefed-up “Work-for-the-Dole” program, which would require the unemployed to apply for 40 jobs a month in order to continue to receive benefits, could create a deluge of sham job applications, and has signaled possible changes.

From the annual Graduate Careers Australia survey: This section of the Graduate Destinations report examines the progress of new higher education graduates, from all levels of study, four months after course completion, comparing employment and further study outcomes.

By Leith van Onselen The AFR is reporting today that Queensland Treasury Corp has called for expressions of interest to sell $33.6 billion of ports, power generators, electricity distribution networks and water pipelines (see below graphic).

Standard and Poors has today affirmed Australia’s AAA sovereign rating: The sovereign credit ratings on Australia benefit from the country’s strong institutional settings, its wealthy and resilient economy, and a high degree of monetary and fiscal policy flexibility.

The HIA is out with its new home sales index: New home sales took a step higher in the month and quarter of June 2014, said the Housing Industry Association, the voice of Australia’s residential building industry.

By Leith van Onselen The ANZ-Roy Morgan Research (RMR) consumer confidence index has more than recovered from its Budget-induced slump, rising another 2.7 points in the week ended 27 July to 116.2, and is now at its highest level since late-January and some 2.7% above its long-run average reading of 113.2 (see next chart).

By Leith van Onselen Business groups have raised concern that the Abbott Government’s planned expansion to its “Work for the Dole” program (outlined yesterday) could create a deluge of sham job applications.

The annual Newport Consulting mining outlook study is out and is sickly reading.

By Leith van Onselen The Abbott Government is set to expand its controversial “Work for the Dole” program to include all job seekers between the ages of 18 and 49 years of age.

By Leith van Onselen The Business Council of Australia (BCA) has urged the federal government to implement policies that facilitate workers relocating interstate or overseas to where they are needed.

By Leith van Onselen Infrastructure Australia boss, Mark Birrell, has urged the Senate to stop bickering and allow through the Abbott Government’s “asset recycling” program, arguing that it is essential to clear the project backlog in Australia.

Cross-posted from Martin North’s DFA blog: The CPI data which came out from the RBA yesterday registered 3%.