Australian Economy

Find a must view video from FTAlphaville interviewing  Atif Mian and Amir Sufi, the authors of a cracking new book: House of Debt.

By Leith van Onselen The ABS has just released data on the value of construction work done for the March quarter of 2014, which registered a seasonally-adjusted 0.3% rise in total construction activity over the March quarter and a 2.6% rise over the year.

By Leith van Onselen The Former head of the World Trade Organisation, Pascal Lamy, warns that Australia’s low level of government debt – around 32% of GDP – could easily escalate and cannot afford to reach European levels because of Australia’s over-reliance on commodities.

Remember that fantastic Pascometer moment that marked the very top of the commodity super cycle: Even if you think you know the “Chindia” story, odds are you don’t really know the Chindia story.

From Richard Goyder, CEO of Wesfarmers, who took home $8 million in 2012: Wesfarmers managing director Richard Goyder has expressed disappointment at reaction to the Federal budget, saying Australians need to think about the resilience of the economy rather than the impact of the budget on household incomes.

The Bureau of Resource and Energy Economics (BREE) is out with its biannual major resource projects update and the capex cliff approaches ever closer: BREE’s version of the investment pipeline is a generic model and in practice resources and energy projects go through complex and tailored development processes that suit their proprietor’s planning requirements.

From Advisor Perspectives: China’s economy isn’t just slowing down, according to Bass: It’ contracting.

Remember that BDO fast data retail index that shows Budget damage?

No rebound in sight yet: Consumer confidence fell a further 1.1% to 99.3 in the week ending 25 May.

By Leith van Onselen Late last year, Employment Minister, Eric Abetz, trumpeted that the Government would deliver a “powerhouse economy” that will produce 1 million jobs over five years and 2 million jobs over 10 years.

Westpac’s Red Book for May is out.

From the MacroBusiness Vault In an ideal world a selection of price indexes would be easily constructed and highly reflective of economic reality.

The AFR is reporting that: A Whitsunday tourism operator has claimed an unlikely victory in his fight to prevent Deutsche Bank financing the $1.8 billion Abbot Point coal terminal in the waters of the Great Barrier Reef.

I’ve discovered a new index.

From Forbes a few weeks ago but apposite today: 1) Australian banks.

Cross-posted from David Collyer at Prosper Australia The Property Council of Australia is ‘vehemently opposed’ to Canberra’s special land levy to part-fund the $600 million light rail project from Gungahlin to the city, calling it “just another property tax in disguise”.

Westpac last night released its consumer unemployment expectations report for May, which points to a moderate improvement in labour market conditions; although the unemployment rate is still expected to trend upwards as employment lags population growth: The unemployment expectations index fell 0.5% in May following on from a 3.2% decline in Apr.

As promised, here is the Kouk’s rebirth and good on him.