Friday’s retail trade data from the Australian Bureau of Statistics (ABS) recorded no bounce from the Stage 3 tax cuts, with the value of sales remaining flat (0%) over the month and falling in real per capita terms. Chief economist at IFM Investors, Alex Joiner, posted the following chart on Twitter (X) showing that the
A pox on both your houses as Newspoll prints a dead heat in two-party preferred: Labor is finished as a standalone entity: Minority government looks like the best bet at this stage, though that prospect might swing things the closer it gets.
The post Newspoll dead heat for dead parties appeared first on MacroBusiness.
Michael Hartnett at BofA has gone gaga for dirt. Zeitgeist: “We present at the trade shows because customers want to see you using AI. Can’t figure out how to make any money with it, though.” The Price is Right: big support levels held in August…3.8% GT10, 4.0% GT30, 100 DXY,140 USDJPY, $70 oil, $60k Bitcoin;
The post Are commodities the new bonds? appeared first on MacroBusiness.
Australia’s population is booming courtesy of record net overseas migration: Australia’s population grew by 2.5% in 2023—the fastest rate since 1952—dwarfing the average growth of advanced nations: However, while Australia’s population has grown like a science experiment, fewer families are having children. The following chart shows that there were 287,000 births in Australia in 2023,
The Guardian’s Greg Jericho posted the following chart showing how hours worked by women have surged, while for men, it is lower than before the pandemic: “The hours worked by women aged 25 to 64 rose strongly after the pandemic – mostly off the back of a surge in healthcare and social assistance work within
The post Women drive Australia’s jobs growth appeared first on MacroBusiness.
Down she goes: China’s residential slump deepened in August, as expectations of a further drop in new-home prices hampered the country’s efforts to cushion the downturn. The value of new-home sales from the 100 biggest real estate companies fell about 26.8% from a year earlier to 251 billion yuan ($35.4 billion), faster than the 19.7% decline in
The South Australian state redistribution was released two weeks ago, but with all of the other elections I have only now had time to complete my analysis. This wasn’t helped by the SA Electoral Districts Boundaries Commission (EDBC) not publishing a shapefile. I had hoped to move away from drawing my own boundary files and simply using the official shapefiles, but in this case it was necessary. So you can find the boundary files on my maps page.
SHFE and SGX jaws are still bad for steel mills: Mad Dalian rolled Friday night: Coking cola more: Scuttlebutt is weak: “Several factors jointly contributed to this wave of price rebound, including stronger expectation of a Fed (U.S. Federal Reserve) interest rate cut, better demand with peak construction season approaching and the suspension of steel
The post Iron ore’s hot metal mess appeared first on MacroBusiness.
The trading week ended on Friday night with some month-end shenanigans with USD surging once more despite a slightly softer than expected US PCE print with rising bond yields helping add volatility to the mix. While European stocks couldn’t take advantage of a very weak Euro, Wall Street put in a very solid session as
The post Macro Morning appeared first on MacroBusiness.
CSIRO, Australia’s national science agency, and Murdoch University have launched The Bioplastics Innovation Hub, an $8 million collaboration that will work with industry partners to develop a new generation of 100 per cent compostable plastic. The Bioplastics Innovation Hub aims to revolutionise plastic packaging by developing biologically derived plastic that can break down in compost,…
This study showing that US academic faculty members are 25 times more likely than Americans in general to have a parent with a PhD or Masters degree has attracted a lot of attention, and comments suggesting that this is unusual and unsatisfactory. But is it? For various reasons, I’ve interacted quite a bit with farmers, and most of them come from farm families. And historically it was very much the norm for men to follow their fathers’ trade and for women to follow their mothers in working at home.
Bernard Salt, the self-proclaimed “unabashed supporter of a bigger Australia”, has written reams of articles and reports advocating for rapid population growth and warning that failing to do so will result in an economic and fiscal catastrophe. Over the weekend, Salt penned a waffling article in The Australian describing the joys of growing up in