Category Archives: Macroeconomy

Residential building approvals have recovered nicely – but some weakness still in regions

Posted on March 4, 2014 by Gene Tunny

It appears Master Builders Queensland was right to report last month that Queensland builders are optimistic (see my post on the report), with today’s new residential building approvals from the ABS showing a strong upward trend nationally and in Queensland … Continue reading →

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FIFO & DIDO workers in Qld gas fields nearly doubled in 2013

Posted on February 28, 2014 by Gene Tunny

The new data from Queensland Treasury on non-resident – i.e. fly-in, fly-out (FIFO) or drive-in, drive-out (DIDO) – workers in the Surat Basin illustrate the boom we’re seeing in the gas-field communities out west of Toowoomba on the Darling Downs, … Continue reading →

Posted in Macroeconomy, Mining | Tagged , , , , , , , , , , , , | 3 Comments

Is employment a lagging indicator of the economy?

Posted on February 23, 2014 by Gene Tunny

A tendency has developed among commentators to dismiss the relevance of discouraging employment data, based on the view that the labour market is a lagging indicator of the economy (e.g., a recent post by a prominent Australian economic commentator: Crappy … Continue reading →

Posted in Labour market, Macroeconomy | Tagged , , , , | 2 Comments

ABC Brisbane radio interview on Toyota departure

Posted on February 11, 2014 by Gene Tunny

This morning, Steve Austin from 612 ABC Brisbane interviewed me regarding Toyota’s departure and the demise of car manufacturing in Australia: How will Toyota’s departure affect the local economy? I reiterated a number of points I’ve made previously, including in … Continue reading →

Posted in Industry policy, Macroeconomy | Tagged , , , , , , , | 5 Comments

Minimal threat to Qld economy from car industry shutdown

Posted on February 10, 2014 by Gene Tunny

The demise of Australia’s car manufacturing industry was always inevitable, but even I have been surprised at the pace with which Ford, GM Holden and now Toyota have announced their plans to cease production in Australia. While the plant closures … Continue reading →

Posted in Industry policy, Labour market, Macroeconomy | Tagged , | 6 Comments

Qld businesses more optimistic than current conditions suggest they probably should be

Posted on February 7, 2014 by Gene Tunny

The December quarter edition of the timely and very useful CCIQ-Westpac Pulse Report released yesterday confirms reasonably high levels of confidence among Queensland businesses and a continuing improvement in business conditions. While CCIQ considers confidence is no longer running ahead of … Continue reading →

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Qld jobs market remains sluggish – unlikely trend unemployment rate fell last month

Posted on January 16, 2014 by Gene Tunny

Today’s labour force data from the ABS confirmed that the jobs market remains sluggish, with Queensland’s unemployment rate at 5.9 per cent in seasonally adjusted terms. Unfortunately, the ABS data aren’t very precise for Queensland and it’s hard to have … Continue reading →

Posted in Labour market, Macroeconomy | Tagged , , , , , , , , , | 2 Comments

Mining capital spending saved Qld economy from really poor growth in 2012-13

Posted on December 1, 2013 by Gene Tunny

The 2012-13 State Accounts, released by the ABS on Thursday, confirm that heavy engineering construction, largely by the resources sector, shored up the Queensland economy in 2012-13 and protected it from the adverse impacts of Government spending cuts. This is … Continue reading →

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Reasons to be optimistic Qld will cope with shock from mining investment decline

Posted on November 11, 2013 by Gene Tunny

BIS Shrapnel’s new report on the mining industry appears to pick up the points made at the Energy Skills Queensland conference I attended last week regarding how gas will boom, but the outlook for minerals is much less optimistic (More … Continue reading →

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Qld Government should maximise revenue from casinos

Posted on October 16, 2013 by Gene Tunny

It’s great news the Queensland Government is intending to increase the number of casino licences (see this ABC News report), given the boost this could give to tourism and the Queensland budget. I’ve previously commented that there is: Scope to … Continue reading →

Posted in Budget, Macroeconomy, Tax, Tourism | Tagged , , , , | 3 Comments