Blogotariat

There was some moderately positive news this week, with the Australian Bureau of Statistics (ABS) reporting that dwelling approvals continue to trend higher after bottoming in January 2024. As illustrated below, both house and unit approvals have lifted and are up 4.2% and 9.8% through the year. In October, 15,069 dwellings were approved for construction

Manufacturers of wind tower foundations, anchor cages and nacelle components are among the businesses Western Australia hopes to grow through a new government and industry support scheme.  

Labor has turned the economy into a circus freak show. There is no other explanation for eight out of nine quarters of falling per capita GDP. Labor’s loons are a world-beating growth-stopper. At their head is General Albotard: The Man with No Brain. Who doesn’t know his economic arse from his elbow. The second act

The post Roll up for Labor’s economic freak show appeared first on MacroBusiness.

New report says gas consumers have suffered since being plunged into the international market - and created a direct transfer of wealth from households to gas producers.

In 2013, as Origin Energy prepared to export enormous quantities of East Coast gas, mostly to China, the Grattan Institue’s Tony Wood demanded there be no domestic reservation: “With more than $160 billion forecast to be invested in LNG production, the export industry is good for the economy. Governments should therefore resist self-interested calls from

Wall Street was doing well until late into the close as profit taking set in, finishing with small losses despite the latest initial jobless claims coming in weaker than expected while European stocks continued their rebound led by the German DAX as those risk markets continue to ignore the collapse of French government. The USD

The post Macro Morning appeared first on MacroBusiness.

Housing affordability has never been worse in Australia. According to a recent analysis from PropTrack, a household with a median income could afford the lowest share of homes on record. Rental affordability has also fallen to a record low, making it harder for first-time buyers to save up a deposit. A key problem is that

The post Australia embraces extend and pretend mortgages appeared first on MacroBusiness.

Government spending is keeping Australia out of recession, just as this week’s feeble GDP numbers tallied 7 consecutive quarters of negative growth. Michael Pascoe reports on the moaning business lobby.

A funny thing happened after Wednesday’s weak national accounts figures: a large part of the economic commentariat poured scorn on government spending and investment for keeping the economy afloat. 

“No man is an island, Entire of itself. Each is a piece of the continent, A part of the main.If a clod be washed away by the sea, Europe is the less. As well as if a promontory were.As well as if a manor of thine own Or of thine friend’s were. Each man’s death diminishes me,For I am involved in mankind. Therefore, send not to know For whom the bell tolls,It tolls for thee.” (John Donne – For Whom the Bell Tolls)

Wednesday’s Q3 national accounts release from the Australian Bureau of Statistics (ABS) revealed that Australia’s per capita recession extended to a record-breaking seventh consecutive quarter after declining by 0.3% in Q3. This meant that Australia’s real per capita GDP declined by 1.5% in the year to September 2024, in line with the declines recorded in

The post Recession crashes down on Australian households appeared first on MacroBusiness.

While Bitcoin makes headlines, Asian stock markets are generally lower over continued macro concerns and the lead up to tomorrow night’s US jobs print. The USD is relatively steady and strong against the other undollars while the Australian dollar remains under pressure just above the 64 handle. Oil futures are failing to hold on to

The post Macro Afternoon appeared first on MacroBusiness.

Dementia Australia Media Release Dementia Australia welcomes the National Dementia Action Plan, a ten-year framework for government that provides the opportunity to make enduring positive changes to improve the quality of life for people living with dementia. Dementia Australia CEO Professor Tanya Buchanan said the plan is vital to ensure that the more than 421,000…

The post National Dementia Action Plan provides a clear vision for the future appeared first on The AIM Network.

A battery project hailed as a "first of its kind" when unveiled two years ago has been scrapped by iron ore billionaire Andrew Forrest's Squadron Energy - because it is too small.