Tag Archives: statefinaldemand

Recovery has been better than expected (especially in Qld), but let’s see what happens when JobKeeper ends

Whoever looks after the Queensland Premier’s Instagram account is a social media grandmaster (e.g. see the post below). The regular reminders of the imminent end of JobKeeper on 28 March are contributing to pressure on the federal government to implement … Continue reading

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

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

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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Qld private sector spending has been falling while government has continued to grow

In Queensland, our over-reliance on the public sector continues, according to the September quarter National Accounts figures from the ABS, which have reinforced concerns about the strength of the national economy and various state economies, including Queensland’s. The National Accounts … Continue reading

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Overly optimistic reactions to discouraging GDP data

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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Has there been a “huge slump” in the Qld economy?

The Courier-Mail today is reporting a “huge slump” in the Queensland economy after yesterday’s ABS National Accounts figures revealed state final demand grew only 0.1 percent in the June quarter, the second lowest rate among states and territories. The paper … Continue reading

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Qld economy traveling nicely based on June quarter National Accounts data

Just a quick update on the June quarter National Accounts released by the ABS today. GDP growth was a healthy 0.8 percent in the June quarter, or around 3.3 percent in annualised terms, which I suspect is around the sustainable … Continue reading

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Qld economy surviving, but not thriving

In his latest column, Stormy times for an economy in the doldrums, Ross Gittins refers to Queensland’s “below-par” growth in State Final Demand, one of the statistics released by the ABS last Wednesday as part of the March quarter National … Continue reading

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Qld consumers resilient at the end of the mining boom

At the end of the mining boom, as resources sector investment has plummeted, Queensland consumers are nonetheless resilient, and their growing consumption spending has partly offset the adverse impact of the fall in investment on aggregate demand (see chart above … Continue reading

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Qld economy hit by declines in both private and public sector capital spending

It was unsurprising that the National Accounts data released by the ABS today showed the Australian economy continuing to grow at a sub-trend rate (2.5% through-the-year), and that Queensland was enduring a large shock from a decline in resources sector … Continue reading

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