The Albanese government’s target to build 1.2 million homes over five years, equating to 240,000 homes a year, is drifting further out of reach. After only 170,000 net dwellings were added to Australia’s housing stock in 2022-23, the Australian Bureau of Statistics (ABS) reported that only 164,300 homes were approved for construction in the year
Asian share markets are doing a better job in finishing the trading week with mostly positive returns as the USD strength eases off slightly. The latest Chinese PMI readings missed estimates while locally both the Aussie and Kiwi Dollar are doing well. Oil prices are trying to stabilise with Brent crude still hovering just below
The June quarter national accounts from the Australian Bureau of Statistics (ABS) revealed that Australia has fallen into a per capita recession following two consecutive quarters of negative per capita GDP growth: Next week’s national accounts for the September quarter will be released by the ABS, with the nation’s GDP growth again expected to be
The gloss has come right off Albo the Disaster now: The states are demanding a new GST deal that would cost the Commonwealth another $5 billion a year, further straining Anthony Albanese’s claim that he would be better at wrangling the premiers than his predecessor Scott Morrison. Already facing a multibillion-dollar battle with the states
From China’s NBS just now. In November , the manufacturing purchasing managers index ( PMI ) was 49.4% , down 0.1 percentage points from the previous month, and the prosperity level of the manufacturing industry dropped slightly. In November , the non-manufacturing business activity index was 50.2% , down 0.4 percentage points from the previous month and still higher than the critical point. The non-manufacturing industry
This will not please the RBA. Despite endless per capita recession, the Australian private capex outlook is overheating: Estimate 4 for 2023-24 is $171.2b This is 8.5% higher than Estimate 3 for 2023-24 The fourth estimate tends to be predictive of the realisation ratios, so the outlook is strong. Where’s it coming from? Everywhere: Remember,
The Market Ear with the latest positioning. TLT upside mania What a difference a month makes. We outlined the contrarian TLT logic on October 23, in our post Dare the TLT? The world’s most hated asset back then has reversed and we are trading above the 100 day for the first time since May. The
The last few year’s of performance suggests there are some serious problems with value investing. In recent weeks, share market volatility has re-emerged, and many investors are expecting Value to protect them – but Value has failed to do so in recent years. Will this time be any different? Join us in this week’s podcast
The Reserve Bank of Australia (RBA) has released its financial aggregates for October, which continued to rebound ahead of the 0.25% Melbourne Cup Day rate hike. Quarterly housing credit growth firmed to 1.0% in October: This firming in credit growth has been driven by owner-occupiers, where mortgage growth was 1.2% versus just 0.8% growth for
Albo the Disaster is burying his energy and immigration inflation shocks under subsidies. Government policies are holding down inflation but electricity prices are starting to rise as rebates come to an end. The Monthly CPI Indicator rose 4.9% in the year to October, down from 5.6%yr in September and the recent peak of 8.4%yr at