RBA: Interest rate cut on agenda next week

From

The Reserve Bank Governor has delivered a speech at the Anika Foundation in Sydney. The Reserve Bank Governor has provided the clearest message yet that while super low interest rates are providing a boost to the economy, there is “no impediment to further easing if needed”. The inflation data last week has not changed the central bank’s views […]

continue reading

Barrage of economic data

From

There is a barrage of economic data coming out… Retail trade: Retail spending fell by a surprising 0.8 per cent in July after lifting by 1.2 per cent in June. Annual spending growth fell from 5.3 per cent to 3.5 per cent. Sales fell across all eight states and territories. The biggest drop in spending […]

continue reading

Weakest lift in investment plans in 19 years

From

New business investment rose by 3.4 per cent in the June quarter, in line with forecasts. Spending on buildings rose by 4.8 per cent in the quarter while spending on equipment lifted by 1.2 per cent. Mining investment rose by 10.0 per cent while manufacturing spending fell by 3.8 per cent and spending by other […]

continue reading

Retail stimulus

From

Retail spending rose by 0.5 per cent in May after lifting by an upwardly revised 0.1 per cent in April. Annual spending growth rose from 2.4 per cent to 3.5 per cent. Non-food retailing rose by 0.9 per cent in May to be 3.4 per cent higher than a year ago – marking the biggest […]

continue reading

Profits barely budge in 2011 while inflation is subdued

From

Company profits slumped by 6.5 per cent in the December quarter to stand 2.2 per cent higher than a year ago. In 2011 profits rose by just 2.1 per cent – the second worst performance in 17 years behind the Global Financial Crisis period. Inflation hits 2-year low: The TD Securities-Melbourne Institute monthly inflation gauge […]

continue reading

Job vacancies slide to 18-month lows

From

Job vacancies fell by 3.3 per cent in the December quarter (November reference month) to 181,000 vacancies – marking the lowest result in 18 months. Across the sectors the bulk of the losses in the year to December were recorded in Administration & support services, retail trade, health care & social assistance and manufacturing. Over […]

continue reading

Discouraging outlook for business as more Aussies head overseas

From

Business confidence improves…the NAB business confidence index improved from minus 1.2 to +1.8 in October in response. Business conditions fell from +2.3 to minus 0.8 in October. The survey of 400 businesses took place from October 25-31 – before the latest interest rate cut. In addition: Tourist arrivals fell but departures rose in September Tourist […]

continue reading

Weekly economic and market report

Weekly economic and market report for week commencing 17 July 2011 Headline developments of the past week European debt problems took centre stage yet again over the last week. Until recently it appeared that the European Union had put a firewall around Greece, Ireland and Portugal in order to protect Spain and Italy and as […]

continue reading

State of the states – state & territory performance report

From

How are Australia’s states and territories performing? Each quarter CommSec attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment, construction work done; population growth; housing finance and dwelling commencements. Just as the Reserve Bank uses decade averages to determine the level of “normal” interest rates; we have done […]

continue reading

CommSec: Unemployment rate is a good indicator of job market health

From

Labour force The unemployment rate was unchanged at 4.9 per cent in June. The participation rate edged up from 65.5 per cent to 65.6 per cent. The working age population rose by 19,600. Employment rose by 23,400 people in June. Economists had tipped job gains of around 15,000. But the May result was sharply revised […]

continue reading