BRANZ and Pacifecon have published their 10th annual National Construction Pipeline Report, which shows that New Zealand residential construction is expected to fall by more than one-third, or $11 billion, to $19.6 billion per year over the next five years. In turn, total construction activity is forecast to fall from a peak of $50.9 billion
To nobody’s surprise, the cost of building Melbourne’s suburban rail loop has doubled to $125 billion, with another $75 billion projected for operating expenses. That’s according to the Victorian Parliamentary Budget Office: According to the state parliament’s budget office, which published a report overnight, the north and east sections of the rail loop could blow
To nobody’s surprise, the cost of building Melbourne’s suburban rail loop has doubled to $125 billion, with another $75 billion projected for operating expenses. That’s according to the Victorian Parliamentary Budget Office: According to the state parliament’s budget office, which published a report overnight, the north and east sections of the rail loop could blow
The Reserve Bank of Australia (RBA) has to be the worst forecaster of wages and incomes in Australia. After being far too bullish on wages over the past decade: It got egg on its face yet again when yesterday’s wage price index for the June quarter came in soft. The RBA’s August Statement of Monetary
It’s cold comfort for punters being reamed by the energy cartels but take a moment to enjoy the earnings release of Origin energy today. The card-carrying member of the gas cartel is being hollowed out by the coal cartel: Origin Energy Limited (Origin) reports underlying profit rose 30 per cent to $407 million for the
SQM research has released rental vacancies data for the month of July, with vacancies nationally remaining at a record low 1.0% and every capital city market zipped tight: The next chart shows the time series across the major capitals, with vacancy rates plunging over the pandemic: And the next chart, published in The AFR, shows
China’s economy has deteriorated significantly. We, here at Nucleus, have time and again discussed the issues and lately have been wondering if it means that China’s great reckoning has arrived? Or will the can be once again kicked down the road? Join us in this investment podcast as Nucleus Wealth Chief Investment Officer, Damien Klassen,
The Australian Bureau of Statistics (ABS) has released labour market data for July, which showed that Australia lost 40,900 jobs (-0.3%) over the month, with hours worked also falling by 16 million (-0.8%): However, because the labour force participation rate fell by 0.3% to 66.4%, the nation’s unemployment rate actually fell by 0.1% to 3.4%
Credit Suisse on DXY. —————————————————————————————————————————— FX markets have now entered what was supposed to be an aimless, low-volatility fortnight ahead of the 25-27AugJackson Hole meetings. Instead, implied volatility in key pairs jumped at the start of the week, in our view primarily as a function of China’s surprise rate cut on Monday. Later in this
NAB’s economics team has talked-up yesterday’s soft wage growth data, claiming private sector wages are in fact booming. In turn, this justifies further aggressive interest rate hikes from the RBA: NAB director of economics and markets Tapas Strickland had a clear message: “Ignore the headline [Wage Price Index] excluding bonuses.” Instead, he said to look