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Australian Bureau of Statistics

This tag is associated with 168 posts

10 Jan 2020 (AFR) – Trade surplus jumps but imports cause a stir

(10 January 2020, AFR, p2, Matthew Cranston, Economics correspondent) ‘Australia has recorded its 23rd consecutive monthly trade surplus after stronger coal, iron ore and gas exports saw a $1.7 billion jump to a better than expected $5.8 billion in November, but imports have slowed – sparking concerns about consumption. The November surplus brought export records … Continue reading

9 Jan 2020 (AFR) – Private sector jobs bounce back after two quarters in reverse

(9 January 2020, AFR, p3, Matthew Cranston, Economics correspondent) ‘Improved job vacancies that indicate businesses are taking the risk of hiring more people will not be enough to prevent the Reserve Bank of Australia cutting interest rates again next month, economists say. Job vacancies increased by 1.6 per cent in the November quarter in seasonally … Continue reading

20 Dec 2019 (AFR) – Australians never been richer, while debt burden easing

(20 December 2019, AFR, p3, Matthew Cranston, Economics correspondent) ‘Australian households have never been wealthier, due to house prices rising and mortgages getting cheaper, but nevertheless, they are spending less. The latest data from the Australian Bureau of Statistics shows that the average household wealth increased by $10,698 in the September quarter to an all-time … Continue reading

18 Dec 2019 (AFR) – New housing demand drives rise in mortgage commitments

(18 December 2019, AFR, p5, Larry Schlesinger, Reporter) ‘Driven by a strong pick-up in demand for new housing, the pace of new mortgage lending almost doubled to 2 per cent in October following the Reserve Bank of Australia cutting the cash rate to a record low 0.75 per cent at the start of the month. … Continue reading

11 Dec 2019 (AFR) – Property prices post biggest gains since 2016

(11 December 2019, AFR, p32, Nila Sweeney, Reporter) ‘Property prices rose 2.4 per cent in the September quarter– the biggest gain since December 2016 – led by strong growth in Sydney and Melbourne, the latest figures from the Australian Bureau of Statistics show. After falling by 0.5 per cent in the June quarter, Sydney’s home … Continue reading

3 Dec 2019 (AFR) – Housing pipeline continues to shrink as new-dwelling approvals fall

(3 December 2019, AFR, p31, Michael Bleby, Senior Reporter) ‘The outlook for new housing developments continues to worsen – the latest official figures show the pipeline of new dwellings fell more than expected in October as the slump in high-rise approvals deepened. New dwelling approvals fell 8 per cent from September to 13,049, while the … Continue reading

28 Nov 2019 (AFR) – Home building and infrastructure work contract in September quarter

(28 November 2019, AFR, p31, Michael Bleby, Senior Reporter) ‘Non-residential construction remains the bright spot, limiting the total fall in output for the industry. Home building and engineering construction declined in the three months to September, extending the contraction in both sectors for a fifth straight quarter and strengthening the focus on non-residential work as … Continue reading

15 Nov 2019 (TheAge) – Tax cut on the cards as NSW leads jobs slump

(15 November 2019, The Age, p1, By Shane Wright and Matt Wade) ‘The Morrison government is looking at ways to deliver tax relief to middle income earners to boost the economy after the nation suffered its biggest one month fall in jobs in more than three years. Treasurer Josh Frydenberg said the government was “always … Continue reading

8 Nov 2019 (AFR) – Trade surplus bigger than expected

(8 November 2019, AFR, p6, Matthew Cranston, Economics correspondent) ‘Australia’s first current account surplus in 44 years is expected to hold strong for another quarter after the monthly trade surplus rebounded to $7.2 billion, well ahead of economists’ consensus of $5.1 billion and mainly due to an increase in the value of gas and ore … Continue reading

7 Nov 2019 (AFR) – Wages rising faster than cost of living – for most

(7 November 2019, AFR, p5, Matthew Cranston, Economics correspondent) ‘The cost of living for working households is rising at about half the rate of wages, thanks to lower prices for banking, communication and transport. The cost of living rose by 0.1 per cent in the September quarter for households that work, or 1.3 per cent … Continue reading

4 Oct 2019 (AFR) – Trade surplus down on lower iron ore price

(4 October 2019, AFR, p10, Matthew Cranston, Economics correspondent) ‘Australia’s monthly trade surplus has dipped back to $5.9 billion in August after hitting a record $8 billion in June, mainly due to a reduction in the price of iron ore and coal. While the surplus was largely in line with consensus, economists now expect a … Continue reading

2 Oct 2019 (AFR) – Building approvals fall again in August

(2 October 2019, AFR, p35, Michael Bleby, Senior Reporter) ‘The prospects for new housing supply worsened further in August as approvals contracted for the fifth month out of the past six, pulled lower by weaker detached houses. Total new dwelling approvals fell 1.1 per cent, confounding expectations for a 2 per cent pick-up after July’s … Continue reading

21 Sept 2019 (AFR) – The (home) renovation obsession is over

(21 Sept 2019, AFR, p8, Nila Sweeney, Reporter) ‘Despite the obsession with renovation, it appears that fewer homeowners and vendors are sprucing up their property this spring even as the markets have started to turn. An analysis conducted by ServiceSeeking, an online marketplace that lets consumers find and hire tradespeople, showed that the volume of … Continue reading

11 Sept 2019 (AFR) – Queensland goes ‘backwards’ on infrastructure

(11 September 2019, AFR, p5, Jenny Wiggins, Infrastructure Reporter) ‘Queensland is in an “infrastructure recession” because the state government won’t sell assets or raise more debt to push ahead with new projects such as the $10 billion Inland Rail line, hurting the state’s economy, contractors say. Construction work in Queensland has now fallen for five … Continue reading

9 Sept 2019 (TheAge) – ‘On a good wicket’: Online sales a bright spot for dejected retailers

(9 September 2019, The Age, p12, By Dominic Powell) ‘Australia’s biggest retailers, such as Coles, Woolworths and JB Hi-Fi, have grown their online sales by more than 20 per cent in the past financial year, creating a bright spot in an otherwise gloomy trading environment. Online sales at electronics retailer JB Hi-Fi jumped 23 per … Continue reading

4 Sept 2019 (TheAge,SMH) – A $16 billion cash boost for consumers – so why aren’t we shopping?

(4 September 2019, The Age, Business, p27, Elizabeth Knight) ‘A $16 billion boost to disposable income should have opened consumers’ wallets, but as yet they remain closed. There was plenty of hype and anticipation attached to the July retail sales numbers released by the Australian Bureau of Statistics (ABS) on Tuesday. So the 0.1 per … Continue reading

4 Sept 2019 (TheAge) – ‘Precisely what you’d expect in an economic downturn’: Retail sales tumble despite tax cuts

(4 September, the Age, By Shane Wright and Eryk Bagshaw) ‘The Morrison government’s income tax cuts and lower interest rates have not been enough to get shoppers into the nation’s malls, with retail sales falling and damaging expectations of a post-election confidence boost. The Australian Bureau of Statistics on Tuesday reported retail sales in July, … Continue reading

3 Sept 2019 (TheAge) – Shock drop in stockpiles may have sent economy backwards

(3 September 2019, The Age, p8, By David Scutt) ‘Australian businesses sharply ran down their stockpiles in the June quarter producing a shock drop in inventories that may have sent the economy backwards. According to data released by the Australian Bureau of Statistics (ABS) on Monday, non-farm inventories fell by 0.9 per cent in the … Continue reading

3 Sept 2019 (TheAge) – ASX pauses as inventory figures put growth at risk

(3 September 2019, The Age, Business, p27, By Lucy Battersby and David Scutt) ‘An obscure set of data on business inventory levels knocked 100 points off the S&P/ASX 200 Index on Monday sending it from 6600 points down to 6560, but it recovered to close just 0.5 per cent lower than Friday’s close at 6573. … Continue reading

29 Aug 2019 (TheAge) – Construction hits recession territory in threat to national economy

(29 August 2019, The Age, p9, By Shane Wright and Eryk Bagshaw) ‘The residential construction sector is facing its deepest contraction since the GST was introduced, dragging down the overall economy amid warnings that fast-tracking national infrastructure has now become urgent. The Australian Bureau of Statistics on Wednesday revealed overall construction across the economy fell … Continue reading

16 Aug 2019 (AFR) – Jobless rate stuck at 5.2pc

(16 August 2019, AFR, p4, Matthew Cranston, Economics correspondent) ‘The economy created 41,100 new jobs last month – outstripping expectations of a gain of 14,000 – but it was not enough to reduce the overall jobless rate from 5.2 per cent, which has been unchanged for the fourth consecutive month.’ Read more at AFR.com (might … Continue reading

16 Aug 2019 (AFR) – Full-time earnings return to strong growth

(16 August 2019, AFR, p4, David Marin-Guzman, Workplace correspondent) ‘Average earnings growth for full-timers have reached a six-year high, growing by more than 3 per cent and adding to a pattern of upbeat labour market data. Figures released by the Australian Bureau of Statistics on Thursday show full-time workers are earning an average of $1634.80 … Continue reading

3 Aug 2019 (AFR) – Department stores no longer a ‘destination’

(3 August 2019, AFR, p6, Simon Evans and Tim Boyd) ‘David Jones and Myer need to move faster in closing and shrinking their stores as spending rapidly shifted online, warned experts who said the appeal of being a ”destination” faded years ago. The malaise in department stores was reinforced on Friday when Australian Bureau of … Continue reading

1 Aug 2019 (TheAge) – Another rate cut expected as petrol and drought start to pinch

(1 August 2019, The Age, p11, By Shane Wright) ‘The Reserve Bank is expected to press ahead with another interest rate cut by year’s end, with inflation remaining subdued despite a spike in petrol prices and signs the drought is now hitting the hip pockets of consumers. Markets remain convinced the RBA will be forced … Continue reading

19 July 2019 (TheAge) – Jobs, ads and business conditions soften after election and rate cuts

(19 July 2019, The Age, p9, By Shane Wright) ‘A slowdown in job creation and advertisements plus more signs business conditions are deteriorating is increasing pressure on the Reserve Bank of Australia and the Morrison government to move quickly to safeguard the national economy. The Australian Bureau of Statistics on Thursday reported just a net … Continue reading

12 July 2019 (AFR) – Housing loan growth hits a decade low

(12 July 2019, AFR, p7, Nick Lenaghan, Property Editor) ‘Home loans commitments fell again in May and the annual decline in mortgage lending is now at its steepest in the past decade as the credit squeeze takes its toll on the residential market. The latest Australian Bureau of Statistics figures show the value of housing … Continue reading

11 July 2019 (AFR) – Infrastructure spending growth to shrink, residential downturn deeper

(11 July 2019, AFR, p4, Matthew Cranston, Economics correspondent) ‘Growth in spending on infrastructure construction may shrink faster than expected, while the deepening residential construction downturn will be sharper but shorter than Treasury expects, according to new forecasts based on a survey of 400 companies. Construction and building activity figures released on Wednesday by the … Continue reading

4 July 2019 (AFR) – Housing approvals still weak

(4 July 2019, AFR, p29, Su-Lin Tan, Reporter) ‘The downturn in home building has had a small reprieve after the number of national dwellings approved for construction rose slightly in May, not enough however to point to a recovery, economists say. New national dwelling approvals rose by a very weak 0.7 per cent in May … Continue reading

19 June 2019 (AFR) – House prices drop in every capital city

(19 June 2019, AFR, p33, Natasha Gillezeau, Reporter) ‘Residential property prices fell an average of 3 per cent across all eight capital cities in the March quarter, up from the average 2.4 per cent property price decline in the previous three months, the Australian Bureau of Statistics said. In the three months ended March 31, … Continue reading

5 June 2019 (AFR) – GDP upgraded on record trade surplus

(5 June 2019, AFR, p8, Matthew Cranston, Reporter) ‘A record $13.6 billion trade surplus driven by higher iron ore prices, has narrowed the current account deficit to just $2.9 billion in the March quarter, the lowest percentage of GDP since 1979. Several economists upgraded their GDP forecasts following the strong net exports data as well … Continue reading