The Reserve Bank of Australia (RBA) said that it was awaiting two vital pieces of data before lowering rates: the June labour force report and the Q2 CPI inflation print. The June labour force figures printed weaker than expected, with the headline unemployment rate rising to 4.31%—above the RBA’s latest projection. Full-time jobs contracted sharply,
Ferrous is up and down again. At these prices, Indian ore will flow. Any push higher and they will gush. Meanwhile, Chinese property is still stuffed. Goldman. Sales are no bueno. Inventory improvement stalling. Completions are a bit better. The Politburo is in the next few days, so look out for more yawnulus.
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The issue of productivity and its impact on real earnings has been a major source of debate among Australian economists since the Global Financial Crisis. With productivity in headline terms flatlining for the best part of the last decade, except for the lockdown and closed border-driven bump seen during the pandemic, the issue has recently
The Australian’s Judith Sloan has challenged Treasurer Jim Chalmers’ claim that the federal government has “made a lot of progress together in our first term making our economy more productive, dynamic, and resilient”. Sloan noted that labour productivity is at 2016 levels and business investment’s share of the economy is similar to that of the
The federal government was advised by eSafety Commissioner Julie Inman-Grant to scrap YouTube’s exemption from laws banning people under the age of 16 from using social media, which are scheduled to take effect in December. Prime Minister Anthony Albanese appeared with David Spears on ABC Insiders over the weekend, where Albanese claimed that the eSafety
The post This is Australia, not 1984 appeared first on MacroBusiness.
Australia’s economy ranked 102nd out of 145 countries on the latest Harvard Atlas of Economic Complexity, which measures the diversity and knowledge intensity of a country’s export mix. Australia ranked behind Bangladesh (100) and Senegal (101). The ranking suggests that Australia has become one of the least self-sufficient and sophisticated economies in the world. ABC
Asian share markets are generally weaker across the board as risk markets try to absorb the impact of the latest trade “deal” from the Trump regime while also anticipating some pretty big macro and economic releases in the coming session. Wall Street is the only light of hope for the bubble boys as earnings continue
The post Macro Afternoon appeared first on MacroBusiness.
In a press conference last week, New Zealand Housing Minister Chris Bishop made the case that his nation needed to decouple economic growth from housing price increases, regardless of how challenging that may be in the short term. Bishop made the case that the Kiwi economic recovery needs to be driven by broad-based growth in
The post New Zealand two faced on housing appeared first on MacroBusiness.
The government’s proposed new rules will allow a flood of toxic chemicals to be sold in the UK.
By George Monbiot, published in the Guardian 23rd July 2025
It’s what the extreme right of the Tory party wanted from Brexit: to tear down crucial public protections, including those that defend us from the most brutal and dangerous forms of capital. The Conservatives lost office before they were able to do their worst. But never mind, because Labour has now picked up the baton.