Tag Archives: nationalaccounts

CommSec’s weird assessment of Victoria’s economic growth as leading the nation in State of the States

Posted on January 28, 2021 by Gene Tunny

This afternoon, Australian Institute for Progress Executive Director Graham Young alerted me to his conversation with 612 ABC Brisbane host Steve Austin and McKell Institute Executive Chair Rachel Nolan yesterday on Steve’s Drive program (from around 2:26:30) regarding the CommSec … Continue reading →

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JobKeeper has been stimulating in multiple ways – evidence from Lush Marcoola

Posted on January 23, 2021 by Gene Tunny

Well done to Matty Holdsworth from the Sunshine Coast Daily for some excellent reporting on the Lush Marcoola brothel which was re-printed in today’s print edition of the Courier-Mail on p. 47: YOUNG men cashed up on JobKeeper payments kept … Continue reading →

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Aussies over-confident after being over-compensated by Gov’t for COVID-recession

Posted on December 9, 2020 by Gene Tunny

Today we learned that, as Reuters reports, Australia consumer sentiment hits 10-year high (see chart above). This is despite Chinese trade restrictions and the looming insolvency tsunami in the new year and the fiscal cliff in April 2021. Sure, given … Continue reading →

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

Qld Gov’t going for broke in COVID response

Posted on September 2, 2020 by Gene Tunny

As well as confirming Australia is in a deep recession, with a 7% fall in GDP in June quarter, the National Accounts published by the ABS earlier today revealed Queensland state and local governments (mostly the state government) are spending … Continue reading →

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Big question now is how long and how deep the recession will be

Posted on June 3, 2020 by Gene Tunny

The March quarter National Accounts released by the ABS today suggest Australia will have two consecutive quarters of negative economic growth in the first half of 2020, and hence the traditional definition of a recession will be satisfied. That said, … Continue reading →

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Overly optimistic reactions to discouraging GDP data

Posted on December 4, 2019 by Gene Tunny

The RBA and the Government must be happy the media is accepting the Bank’s “gentle turning point” view of the Australian economy (e.g. see the AFR’s ‘Back on track’: GDP lifts to 1.7pc), but I can’t see how the September … Continue reading →

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Federal & state spending propping up national & state economies

Posted on September 4, 2019 by Gene Tunny

I feel sorry for Treasurer Josh Frydenberg, who has the duty of talking up the economy regardless of what the National Accounts data are saying. As you’re no doubt aware by now, the June quarter 2019 National Accounts published by … Continue reading →

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Qld construction activity 16% lower than in June quarter last year

Posted on August 28, 2019 by Gene Tunny

Back in February, I depressed several hundred people in the construction and property sectors who heard me speak about the economic outlook at various events around Brisbane (e.g. Qld: hot or not?). It was reasonably clear from building approvals and … Continue reading →

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Good & bad news on Qld economy – avoids worst effects of property bust, but remains reliant on gov’t spending

Posted on June 6, 2019 by Gene Tunny

Queensland state and local general government capital expenditures increased 13% in March quarter, rising to $2.79 billion, helping Queensland to record 0.5% growth in State Final Demand, the second highest growth rate in Australia (second to Tasmania with 0.7%). Part … Continue reading →

Posted in Macroeconomy, Uncategorized | Tagged , , , , , | 2 Comments

Is it nonsense to talk about a “GDP per capita recession”?

Posted on March 10, 2019 by Gene Tunny

My colleague Nick Behrens from QEAS is critical of recent references to Australia’s “GDP per capita recession” by the media and the federal Opposition in his latest post A GDP per capita recession is nonsense. Recall that the December quarter … Continue reading →

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