Australia’s home building sector appears to be one giant contradiction. On one hand, Australia possesses the strongest level of new dwelling completions per capita in the Anglosphere and one of the highest levels in the entire developed world. In fact, Australia has been in an absolute ascendancy over its Anglosphere rivals for the last 40
The ferrous complex continues its great levitation. At least, iron ore does. Steel is stuffed. Ask yourself, why are steel prices tumbling when production is shut in for Beijing’s warmongering parade? Too much steel, with more coming when the parade ends, as the last of the margin expansion of the past few months is devoured.
This week, the Albanese government announced that the permanent migrant intake would remain at 185,000 places in 2025-26, with 132,200 places set aside for ‘skilled migrants’. When the 20,000 humanitarian intake and 3,000 Pacific Engagement Visas are added, Australia’s permanent migrant intake has effectively been set at 208,000. It is important to point out that,
The following chart from Justin Fabo at Antipodean Macro shows that Australia’s productivity growth has lagged other advanced nations since 2018. Wednesday’s Q2 national accounts release confirmed that the nation’s productivity remains stillborn, with non-farm labour productivity rising 0.3% in Q2 but was slightly lower over the year and remained around 2017 levels. While