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Articles from MacroBusiness

All indicators scream housing crash

March 5, 2024 - 00:05 -- Admin

The Albanese government’s target of building 1.2 million homes over five years continues to slip further out of reach. On Monday, the Australian Bureau of Statistics (ABS) released dwelling approvals data for January, which fell another 1.0% (expected +4.0%) over the month. This follows the 10.1% fall in December. The next chart plots monthly dwelling

Australian private sector demand remains in a funk

March 4, 2024 - 14:15 -- Admin

CBA’s write-up of Monday’s Q4 business indicators survey from the Australian Bureau of Statistics (ABS) included the below chart on private final demand: “The Business Inventories data today suggests demand in the private sector remained quite subdued”, CBA economist Stephen Wu wrote. “As the facing chart shows, overall income from sales rose by just 0.2%/qtr.

Dumb policies are driving up cost-of-living

March 4, 2024 - 13:00 -- Admin

Bill Mitchell from Brisbane Radio 4BC interviewed me, and I explained how ineffective government policies regarding energy and immigration have made the cost-of-living crisis in Australia worse. Below are highlights from the interview. Edited Transcript: If you take Queensland, for example. You are a massive energy exporter. You have got oodles of coal and oodles

Aussie recession odds jump

March 4, 2024 - 12:13 -- Admin

Bank economists had tipped that the Australian economy would narrowly avoid a contraction in GDP when the Q4 national accounts are released on Wednesday. Most economists tipped that the economy would grow by 0.2% to 0.3% over Q4, with per capita growth contracting for a fourth consecutive quarter. The Q4 business indicators data released on