The latest net permanent and long-term arrivals data from the Australian Bureau of Statistics (ABS) showed that 446,504 net migrants arrived in 2024, slightly less than the record 449,813 that arrived in 2023. While net arrivals declined since March 2024 compared to 2023, each month in 2024 was higher than in the corresponding month in
The federal Labor Party announced its Powering Australia Plan in late 2021, promising to cut National Energy Market (NEM) wholesale power costs by $11 per MWh, from $62 to $51, by 2025. Labor bragged that its Powering Australia Plan will save Australians $275 on residential electricity bills in 2025 and $379 in 2030. According to
The Market Ear on the dead cat. NASDAQ – “oversoldest” NASDAQ has not been this oversold since August last year. Note that RSI at these levels, with NASDAQ trading below the 200-day as it touches the big trend line, has only occurred twice before since the great bull started. Source: Refinitiv “Netted out” Gross leverage
Tropical Cyclone Alfred is now forecast to hit Brisbane, the Gold Coast and the NSW Northern Rivers on Friday, with fears it is slowly strengthening into a category 3 system, unleashing winds greater than 150 km/h. The impacted regions are expected to experience major flooding, and up to 400 mm of rain is predicted. The
DXY goes “CRACK”. EUR to the moon! AUD follows EUR but not fast enough to catch it. Lead boots held up. Amusingly, oil is going to pull that drill, baby, drill. Goldman will make you pay for the energy transition as copper rises DXY reflation. Big miners false dawn. EM up. Junk firmer. Yields higher
Wednesday’s Q4 2024 national accounts release from the Australian Bureau of Statistics (ABS) reported that the economy finally emerged from its per capita recession. The economy has finally broken the record seven consecutive quarter streak of real per capita GDP declines with a 0.1% quarterly expansion (with eight out of the last 10 quarters recording
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
The post Macro Afternoon: 5 March 2025 appeared first on MacroBusiness.
A group of independent Teal MPs is calling on the federal government to index income tax thresholds to inflation. Tax reform is likely to be a major issue for the Teals in the event of a hung parliament. The tax reform plan would see all income tax brackets indexed either to inflation or a flat
For years I have warned that taxing cigarettes as heavily as Australia does would result in three unintended consequences. It would create a large black market for smokes. Tobacco smuggling will increase, providing a source of revenue for criminal organisations, jeopardising law and order. New health dangers will emerge as vaping’s popularity grows in place
The Australian Bureau of Statistics’ (ABS) annual state accounts showed that Victoria’s per capita GDP declined by 1.2% in 2023-04 and has only increased by 10.4% since the Global Financial Crisis (GFC) in 2008. This compared with a 1.0% national decline in per capita GDP in 2023-24 and a 14.5% gain since 2008. Productivity growth