Category Archives: Macroeconomy

Far too early to call end of resources boom

Posted on July 3, 2012 by Gene Tunny

The slowdown in the Chinese economy has some market players worried about the outlook for the Australian resources sector, as reported by AAP (Mining boom over says, analyst). These concerns seem unwarranted, as any slowdown will be temporary, and there … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

Two-speed economy shows up in job vacancies data

Posted on June 28, 2012 by Gene Tunny

The economies of the non-resources States are not looking healthy, if today’s ABS job vacancies data are any indication: MacroBusiness has good coverage of the national data (ABS job vacancies fall), with Houses and Holes observing: It appears that growth … Continue reading →

Posted in Labour market, Macroeconomy, Mining | 1 Comment

Qld employer surveys suggest solid employment growth over rest of 2012

Posted on June 12, 2012 by Gene Tunny

In contrast to the depressing national NAB survey released today (see MacroBusiness for coverage), recent surveys of Queensland employers suggest a rebound in employment in the State, as reported in the Courier-Mail today (Job prospects on the up): According to … Continue reading →

Posted in Budget, Labour market, Macroeconomy | 1 Comment

Qld credit rating downgrade by Fitch would be unjustifiable

Posted on June 12, 2012 by Gene Tunny

Ratings agency Fitch has hinted it will downgrade Queensland’s credit rating again, according to a report in today’s Courier-Mail: QUEENSLAND’S battered credit rating looks set to take another hit with ratings agency Fitch preparing to downgrade the state’s outlook yet … Continue reading →

Posted in Budget, Macroeconomy | 2 Comments

Queensland had lacklustre March quarter, while WA is hero of National Accounts

Posted on June 6, 2012 by Gene Tunny

I’m unclear why today’s ABS March quarter National Accounts have generated such surprise among commentators, as the data were wholly consistent with the two-speed economy we know we have. To me, the only new information was that the mining boom … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

Rate cut looks very likely as markets panic

Posted on June 4, 2012 by Gene Tunny

After spending a good part of late 2008 worrying about an economic crisis that didn’t occur, at least not in Australia, I find it hard to worry too much about the latest international news that is panicking markets across the … Continue reading →

Posted in Macroeconomy | Leave a comment

Still waiting for a recovery in building approvals

Posted on May 31, 2012 by Gene Tunny

Today’s new building approvals data from the ABS were disappointing, as the recovery in building approvals I thought was occurring a few months ago has not eventuated, and building approvals remain flat at a relatively low level: It appears OESR … Continue reading →

Posted in Housing, Macroeconomy | Leave a comment

Qld & WA the winners in the two-speed economy

Posted on May 31, 2012 by Gene Tunny

Adam Creighton and David Uren have a nice summary of the latest data on the two-speed economy in the Australian this morning (Retail in reverse as resources power on): THE divide between the over-heated, resource-rich sectors of the economy and … Continue reading →

Posted in Macroeconomy, Mining, Retail trade | 1 Comment

Bad news for renters, but drop in vacancy rates is good news for building industry

Posted on May 25, 2012 by Gene Tunny

A friend of mine recently complained about how hard it is to find a suitable flat at the moment in inner city Brisbane, and data on residential vacancies released today by OESR back up this complaint. In inner Brisbane, the … Continue reading →

Posted in Gold Coast, Housing, Macroeconomy | Leave a comment

Good news from the OECD on Australia’s economic outlook

Posted on May 22, 2012 by Gene Tunny

There is good news from the OECD via Acting PM Wayne Swan tonight (OECD Economic Outlook 91): The OECD Economic Outlook released tonight confirms that the Australian economy will significantly outperform OECD economies as a whole over this year and … Continue reading →

Posted in Brisbane, Macroeconomy | Leave a comment