CBA Economics: State and Territory Perspectives

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Most economic commentary is focussed on the national outcome. The State and Territory Perspectives report digs below the surface and compares outcomes across various regions and covers the macroeconomic trends in

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Capex Preview – First estimate of 2015-16 spending is key

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Capex Preview – QIV 2014 The RBA’s latest downgrade to growth forecasts were based on a more negative outlook for non‑mining capex.  In this context, the first estimate of 2015‑16

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Retail spending disappoints over December

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Retail trade rose by a soft 0.2% in December.  Annual growth has come down to 4.1% The volume of retail spending still remains high.  In volume terms, retail trade increased

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A look at housing in 2015

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We expect new dwelling construction to be 193K in 2015, staying near the record level of 2014. The major drivers of housing construction are firm population growth, very low mortgage

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What is needed to drive consumer spending?

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Real wages growth will remain low while the labour market is weak.  Real household disposable income growth will continue to run at a below‑average pace and therefore act as a

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No signs of Budget fears in May credit data

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Housing credit lifted by 0.5% and is running at 6.2% over the year.  Investor housing credit rose by 0.8% (8.3%pa) and owner‑occupied credit increased by 0.4% (5.2%pa). Business credit increased

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June RBA Board minutes more dated than usual

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RBA Board Minutes – June 2014 There was no change to the RBA’s guidance about a period of stability in rate settings continuing. The June Board minutes look a bit

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Business Investment Outlook

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Business investment will decline noticeably over the next few years as the mining capex downturn accelerates. The largest impact will be in the engineering construction space.  Non‑mining engineering construction growth

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