Via the ABS comes Private Capex Expectations. Estimate 1 for 2024-25 is $145.6b This is 12.6% higher than Estimate 1 for 2023-24 These numbers are pretty good, given the slowing economy. But you must remember that average realisation ratios tend to slow the growth with each new update. Much of this survey would have been
The latest OECD figures show how Australian living standards have collapsed since the Global Financial Crisis hit in 2008. The next chart shows that Australia’s GDP per capita has grown more slowly than the OECD since Q1 2007. Australia’s GDP per capita grew by 16.6% between 2007 and 2023, versus 17.3% across the OECD average:
The Business Council of Australia (BCA) has made its pre-budget submission to Treasury, labelling it as a ‘reclaiming our competitiveness’ submission. Amongst other things, the BCA is calling on the government to cap real expenditure growth at an annual 2%, adopt a single payroll tax system, and cut regulation and spending. With Australia falling from
Hoocoodanode? Certainly not SEEK’s immigration fanboy, Matt Cowgill, who writes: Advertised salary growth is cooling in line with the labour market, but remains robust at 4.5% annually. Blah, blah, blah. What Matt doesn’t say is that the last four months of wage rises annualised is 3.1% and falling fast: This is the weakest four-month stretch
The Australian’s Judith Sloan has written a fantastic critique of the Albanese government’s immigration policy. Sloan argues that Labor’s immigration policy represents a wind vane, lacking direction and purpose: “When it comes to the excessive number of migrants entering the country, the Albanese government’s preference is to deny the problem while quietly working in the
This is not good: The US supreme court agreed on Wednesday to take up the unprecedented claim that Donald Trump has absolute immunity from prosecution in the criminal case over his efforts to overturn the 2020 election results, throwing into jeopardy whether it goes to trial before the 2024 election. The Supreme Court rejected the
The Market Ear with more. We got that July 2023 feeling The perceived NASDAQ bull has been stronger than the actual realized over the past weeks. We have basically been consolidating at highs. We saw a similar development last summer. We see many other similarities between then and now. A break below the trend-line risks
FFS, ASIO, get over it: Revealing details of a spy network dubbed “The A-Team”, the ASIO director-general said if the agency had a threat level for espionage and foreign interference it would be classified as “certain … the highest level on the scale”. Mr Burgess said several years ago, the A-Team “successfully cultivated and recruited
The latest US GDP figures took away confidence from US share markets and their European counterparts as the USD found some strength as traders anticipate the upcoming inflation print that could shake things up even further. Bond markets were more sanguine while Bitcoin went nuts returning to its November 2021 highs, while the Australian dollar
Rebar and SGX futures did better yesterday: However, Dalian struggled and puked overnight: The scuttlebutt is still negative: Even Beijing’s biggest-ever cut in the benchmark mortgage rate to revive the ailing property market failed to support prices, which typically get a boost from such stimulus. The declining prices aren’t necessarily bringing much relief to steelmakers,