Manufacturing contracts to nine-month lows

From

Performance of Manufacturing The Performance of Manufacturing index fell by 4.4 points in September to a nine-month low of 47.3.  Any reading below 50 means the manufacturing sector is contracting. Of more concern, the production sub-index fell to a nine-month low, employment is now at 11 month lows and new orders have slumped to 14 […]

continue reading

The return outlook for unlisted commercial property

Key points Unlisted commercial property prices have started to grind higher after a 20% slump through 2008 and 2009. Expect a continuing but gradual recovery in returns going forward on the back of attractive yields and constrained office supply, but only modest growth in space demand reflecting the somewhat mixed nature of the economic recovery. […]

continue reading

Weak data raises doubts about imminent rate hike

From

Latest economic data The outlook for home builders remains sluggish. New dwelling approvals fell for the fourth time in the past five months – down by 4.7 per cent in August. Lending barely grew last month. Private sector credit rose by only 0.1 per cent in August – marking the slowest growth in nine months. […]

continue reading

Home prices fall again in August

From

House Prices The RP Data-Rismark Hedonic Australian Home Value Index – the largest property database in Australia – reported that home prices fell by 0.2 per cent seasonally adjusted terms in August. House prices outside capital cities were unchanged in the month. Capital city home prices are up 8.0 per cent on a year ago […]

continue reading

Baby-boom! Migration levels ease

From

Population statistics Australia’s population grew by 403,082 people over the year to March. Population growth consolidated, increasing by 1.8 per cent over the past year, however continuing to ease from the 40 years highs reached in the year to March 2009. Not only is Australia experiencing healthy migration levels but also a baby boom. There […]

continue reading

Petrol to fall as wholesale price hits 11-month low

From

Petrol price Petrol prices have risen for the second consecutive week. The Australian Institute of Petroleum reports that the average Australian petrol price rose by 0.5 cents a litre last week. The national pump price stands at a 4-week high of 123.2 cents a litre. The good news is that the strength of the Aussie […]

continue reading

Budget outcome: Better than expected… again

From

Federal budget update The Federal Budget deficit stood at $54.8 billion in 2009/10 (4.2 per cent of GDP), an improvement of $2.3 billion on the estimate made just four months ago at the time of the May budget. GST receipts hit record highs in 2009/10, up 9.2 per cent on a year ago. The budget […]

continue reading

Cash holdings rise to record highs

From

The proportion of super funds (pension funds) assets held in cash rose from 14.3 per cent to 15 per cent in the June quarter, well above the decade average of 9.2 per cent. Super fund holdings of cash assets rose to a record high $158.9 billion in the June quarter. Australian companies are maintaining very […]

continue reading

Weekly market & economic update

From

Headline developments of the past week While the risk of a double dip back into recession may be waning, the prospect of sub-par growth in key developed countries suggests that another round of global reflation looks to be on the way, via more quantitative easing (or QE2), with both the US Federal Reserve and the […]

continue reading

Investor Signposts: Week Beginning September 26 2010

From

The big picture Finally one of the great myths has been debunked. The Reserve Bank has finally acknowledged that housing affordability is not a major problem in Australia. Neither is it worsening dramatically, or alternatively going through the floor. Actually it has been going sideways for the last 5-6 years. The Reserve Bank has come […]

continue reading