Category Archives: Macroeconomy

Qld only state to record growth in building approvals

Posted on February 2, 2012 by Gene Tunny

Today’s ABS data on building approvals (see the chart below I’ve pinched from this OESR brief) and Westpac’s gloomy assessment of the Australian economy (Westpac says cutting up to 400 jobs) have made me a bit concerned about the two-speed … Continue reading →

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Business confidence starts to reflect economic reality

Posted on January 31, 2012 by Gene Tunny

I was very pleased to see this news yesterday in the Brisbane Times as it confirms my belief that the Queensland economy is strengthening due to the pipeline of resources sector investments (Queensland’s business confidence growth outpacing nation): Business confidence … Continue reading →

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Bond traders bet on US recovery – great news for world economy

Posted on January 21, 2012 by Gene Tunny

Despite all the anxiety over the global economy, including from the World Bank earlier this week, I remain optimistic, and recent news out of the US gives hope for a much better 2012 than originally expected. Bloomberg Businessweek reports: Treasuries … Continue reading →

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Rebound in building approvals, but still at low levels

Posted on January 10, 2012 by Gene Tunny

Building approvals are a useful leading indicator of economic activity so it was good to see the rebound in the ABS’s building approvals data for November (see chart below), possibly due to the Melbourne Cup day rate cut. But, given … Continue reading →

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Eurozone crisis watch

Posted on December 29, 2011 by Gene Tunny

Today’s Italian bond auction went significantly better than expected, although nervous market watchers still found a reason to worry, as reported on the Guardian’s excellent Eurozone Crisis Live Blog: At first glance, the results are slightly better than feared (the … Continue reading →

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Treasury reports pessimism around Qld residential construction

Posted on December 17, 2011 by Gene Tunny

Commonwealth Treasury has produced a nice write-up of current economic conditions across the two-speed economy in its latest business liaison report. It contains sobering news for people in the retail sector and Queensland’s residential building industry: Retail sector contacts report … Continue reading →

Posted in Housing, Macroeconomy, Retail trade | Leave a comment

Coal mines re-open – Qld economy bounces back

Posted on December 7, 2011 by Gene Tunny

As the formerly flooded coal mines have re-opened, the Queensland economy has bounced back strongly. From OESR’s briefing note on the latest National Accounts figures: Also regarding the National Accounts, Fairfax economics editor Peter Martin has a great column (Economy … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

RBA panics over European debt crisis

Posted on December 7, 2011 by Gene Tunny

Yesterday’s interest rate cut shows the official family in the RBA and Treasury are panicking over the European debt crisis, and are risking the Bank’s inflation-fighting credentials. On the issue of whether the banks will pass on the rate cut … Continue reading →

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Latest building approvals data disappointing

Posted on December 1, 2011 by Gene Tunny

The new ABS building approvals figures are disappointing, suggesting the non-resources part of the economy is sluggish:

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OECD optimistic that European policy makers will prevent crisis

Posted on November 29, 2011 by Gene Tunny

In its latest Economic Outlook, the OECD runs the risk of being subject to the old joke about the economist stranded on a desert island with some tinned food who assumes he has a can opener.  While I agree with … Continue reading →

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