Australian Economy

Every so often the old bastard makes sense.

Australians have experienced the longest recession in modern history, with real per capita GDP falling for seven consecutive quarters as of Q3 2024.

Lol.

Earlier this month, the Australian Bureau of Statistics (ABS) released the Q4 2024 wage price index, which recorded growth of 0.7% for the quarter and 3.2% year over year.

A decade ago, Australia was one of the worst nations for online piracy.

Much of the Western world is deindustrialising to meet ‘net zero’ emissions targets.

The latest annual state accounts from the Australian Bureau of Statistics (ABS) showed that Victoria’s per capita GDP declined by 1.2% in 2023-04, and it has only increased by 10.4% since the Global Financial Crisis (GFC) in 2008.

Simon Kuestenmacher, dubbed the “Stats Guy”, is a well-known immigration shill.

I was interviewed by Luke Grant at Radio 2GB/4BC, where I broke down the immense failure of the East Coast energy market, especially pertaining to gas.

The Reserve Bank of Australia (RBA) would be happy with Wednesday’s monthly CPI indicator from the Australian Bureau of Statistics (ABS). The ABS reported an annual headline CPI of 2.5% in January (versus 2.6% expected) and the policy-relevant trimmed mean inflation of 2.8% (within the RBA’s target of 2% to 3%).

The Australian’s Judith Sloan argues that Labor’s $22.7 billion Future Made in Australia (FMIA) policy is badly planned and badly executed.

Analysis shows that the federal government has made $123.6 billion worth of discretionary spending decisions in the three budgets it has handed down since taking office in May 2022.

“Voluntary attendance.

Machine translation (MT) is becoming an essential tool for governments looking to communicate efficiently with migrant and refugee communities.

Australia’s inflation is falling. CBA forecasts that trimmed mean inflation will fall to 2.8% in January, within the Reserve Bank of Australia’s (RBA) 2% to 3% inflation target.

Westpac’s credit card tracker for the two weeks prior to the rate cut.

A year ago, former Treasury Secretary Dr Ken Henry, who produced a 1,000-page review of Australia’s tax system in 2010, advocated for fundamental tax reform, claiming that the existing system is an “intergenerational tragedy”.

Via Judo Bank. Flash Australia PMI Composite Output Index(1): 51.2 (Jan: 51.1). 6-month high. Flash Australia Services PMI Business Activity Index(2): 51.4 (Jan: 51.2). 6-month high. Flash Australia Manufacturing Output Index(3): 50.1 (Jan: 50.5). 2-month low. Flash Australia Manufacturing PMI(4): 50.6 (Jan: 50.2).

On the surface, Australia’s job market looks incredibly strong. According to the latest labour market survey from the Australian Bureau of Statistics (ABS), the economy recorded 3.5% annual job growth in January. Australia’s official unemployment rate (4.1%) is also amongst the lowest in the advanced world, alongside the United States.

The latest insolvency data from the Australian Securities and Investments Commission (ASIC) shows that 1,420 businesses in the hospitality industry became insolvent in the first seven months of 2024-25.

Deloitte Access Economics has released its latest Employment Forecasts, which noted that “the market sector workforce experienced modest employment growth in 2024 with most job growth very much sponsored by the public sector”. “The non-market sector (health care, education, and public admin) drove most of the growth in the past year.

On Thursday, I reported how the Reserve Bank of Australia’s (RBA) latest Statement of Monetary Policy (SoMP) suggested that real per capita household disposable income may not recover back to its Q2 2022 peak until the early 2030s.

Gareth Aird and Stephen Wu, economists at CBA, published a report (presented below) explaining how the Reserve Bank of Australia’s (RBA) February Statement of Monetary Policy (SoMP) lowered the neutral estimate of Australia’s cash rate to around 2.9%, down from its previous estimate of 3.5%.