Australians are experiencing the longest per capita recession on record, with six consecutive quarterly falls in per capita GDP and seven declines in the previous eight quarters. The International Monetary Fund’s (IMF) most recent World Economic Outlook report, released last month, predicted that the Australian economy would grow by only 1.2% in 2024, down from
Last month, PropTrack released data showing that Australian housing affordability has declined to its lowest level on record with median-income households earning just over $112,000 a year able to afford only 14% of homes sold across the nation. A median-income renting household could only afford 11% of homes sold in the previous year (and just 9%
Asian stock markets have seen a big boost across the region as Chinese stimulus seems to be working with a very solid services PMI, but Melbourne Cup Fever could not overshadow a tight RBA that held at today’s meeting, pulling down local stocks as a result. The USD remains in limbo land as everyone and
The Reserve Bank of Australia (RBA) has categorically ruled-out rate cuts in the short-term, noting in Tuesday’s monetary policy statement that “underlying inflation is too high” and that “labour market conditions remain tight”. Alex Joiner, chief economist at IFM Investors, has highlighted the key bits from its Monetary Policy Statement: Joiner notes that “the clear
It may have never crashed an aircraft, but Qantas is crashing a prime minister. Tin-eared Klepto is far behind the curve: A growing number of politicians say there’s a case for banning flight upgrades for personal travel – either solicited by an MP or offered by the airline – increasing pressure on Anthony Albanese and Peter Dutton
The robots have done it again. The Market Ear with more. Revisiting the SPX wedge We broke below the rising wedge last week. Note the SPX is “dancing” around the 50 day here. The 5750/5700 (futures) area is short term support. A close below and the next big level comes in at 5500, right where
The latest election polling from Roy Morgan research shows that the upcoming federal election is “too close to call” with the Coalition 51% (up 1.5% points from a week ago) narrowly ahead of the ALP 49% (down 1.5% points) on a two-party preferred basis. This week’s result represented the second consecutive weekly swing to the
Greg Sheridan says Trump: A Donald Trump presidency would probably be better for Australia than a Kamala Harris presidency. There’s a simple reason for this. America would almost certainly be stronger internationally and project a more credible deterrence under Trump than it would under Harris. …Trump will want to spend more on defence than Harris
Over the weekend, Prime Minister Anthony Albanese announced that the federal government would wipe 20% of student debt if re-elected. Hear it here first: a re-elected Labor Government will wipe 20% off your student debt. pic.twitter.com/EpWUgxTJKE — Anthony Albanese (@AlboMP) November 2, 2024 Numerous economists have rightfully slammed the policy as being unfair and fiscally
Treasurer Jim Chalmers is an inveterate liar: With opposition Treasury spokesman Angus Taylor declaring Australia was in a “household recession”, Jim Chalmers said GDP per capita had also gone backwards under the former Coalition government. “If you care about per-capita living standards in this economy, you’ve got two options,” the Treasurer told parliament . “One