Credit Agricole has a wrap on the broader themes. China’s 4th Plenum will take place on 20-23 October to discuss the 15th Five-YearPlan (FYP), outlining China’s medium-term strategic plans for economic and social development in 2026-30. The 15th FYP will likely prioritise technological innovation to achieve high-quality growth and ensure high-level security. While the FYP
By Ross Elliott, cross-posted from The Pulse: A million people generate a lot of demand for things. Hospitals included. In Australia, we need on average 1 hospital bed for every 270 people, so that’s 3,703 beds for 1 million people. Based on a large hospital of say 500 beds, that’s roughly 7.5 hospitals for 1 million
Last week’s dwelling completions data from the Australian Bureau of Statistics (ABS) showed that in 2024-25, the Albanese government fell 65,970 (27%) behind the National Housing Accord’s target, which requires 240,000 homes to be built annually for five consecutive years. It also means that Australia will have to build around 256,000 homes annually over the
There is no substitute for stupidity in Australia. We do it better than anyone. If energy ran on stupidity, we would have the cheapest power in the world. Fresh from telling southern states that it can’t have any QLD gas, the Crusifulli government has added to the state’s energy woes. Queensland secures deal for first
The Chinese property crash is somewhere near the halfway point. Here is the raw data for Ssptember, Floor space sold: -10.5% yoy in September, vs. -10.3% yoy in August (value of sales:-11.8% yoy in September, vs. -13.8% yoy in August). Floor area under construction: -9.4% yoy in September, vs. -9.3% yoy in August. New home
Since the pandemic kicked off in early 2020, around 60% of the nation’s job growth has been driven by the non-market (largely government-funded) sector, which comprises healthcare, social assistance, education, and public administration and safety. As a result, the non-market sector now comprises a record high 31.5% of the Australian labour force. Last week’s Labour
In September 2023, just as Australia’s net overseas migration was hitting its highest level in history (i.e., 556,000), NSW Premier Chris Minns told ABC’s 7.30 Report that he supported record immigration levels, claiming that more migrants were needed to build houses and apartments in the state. “We’re supportive of the commonwealth government’s decision to lift
Recently, the level of migration has been a major source of controversy. A major part of the controversy is the lagged nature of Australia’s net overseas migration figures and the extent to which leading indicators are representative of the true migration level. As of late October, the most recent data available extends only to March
Goldman kicks us off. China’s Q3 GDP report came in marginally above market consensus (though in line with our forecast) amid mixed September activity data — industrial production (IP )meaningfully beat market expectations, retail sales was in line, while fixed assetinvestment (FAI) missed notably, reflecting that the economy remains bifurcated. Real GDP growth moderated to
The Market Ear melts up. Things can always melt up No, the 1999 analogy is not very likely, but imagine the AI narrative goes really crazy? After all, everybody tends to underestimate all moves. Full note here. Source: LSEG Workspace Never forget Santa coming this year again? Source: Equity Clock That was quick “US ETF shorts