DESPITE A RECENT surge in positive COVID-19 cases for Victoria, the infection rates detected by its testing blitz have remained at a very low 0.2%.
And so, that would suggest the virus is not widespread within the community.
Furthermore, there hasn’t been any marked increase in the number of cases actually requiring hospitalisation.
IN REALITY, the Australian economy is showing solid growth in the metropolitan areas. And there is a flow-on effect into most regional cities – the only exceptions being those areas recently struck by drought and bushfires.
While not buoyant (and there may be a short-term pullback from natural disasters) … overall, the economic fundamentals look fine.
Therefore, we need to steer clear from unwittingly talking ourselves into recession. Because, as soon as confidence returns (and it will), consumers will start spending again. [Read more…]
RIGHT NOW, there is really nothing that can immediately ease the pain and suffering being felt by all the bushfire victims and emergency service providers.
And yet, the process of restoration and rebuilding may bring some unexpected benefits. [Read more…]
THERE WAS A FAVOURABLE response to the so-called Phase 1 breakthrough in the Trade Talks, between the US and China. And there’s been further positive developments this week.
However, it is actually worth reviewing where things stood before these recent events.
Despite political tensions, there has been little adverse impact on Australia’s trade with China. And the rapid increase in China’s share of our exports has been principally driven by higher iron ore prices. [Read more…]
ACCORDING TO JP MORGAN, the expected trade war should only shave about 0.07% off Australia’s GDP over the next couple of years. [Read more…]
WHAT AN AMAZING election result … although, I had always felt it would be a lot closer than everyone thought. Now many people are now asking how the pollsters could have got it so wrong?
In actual fact, they weren’t that far out. Rather, it was more a heavy bias in media coverage which fanned the Labor fever.
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LAST WEEK, the Property Council of Australia released its 6-monthly update on the national Office Market to January 2018. And a few interesting things emerged. [Read more…]
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MY BACKGROUND TRAINING is as an economist. And yet, trying to explain such things in an easy-to-understand way can often prove rather difficult.
Australia has been more fortunate than most countries emerging from the GFC. And yet, there seems to be a certain complacency regarding our economic well-being. [Read more…]
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RECENT MEDIA HEADLINES have been dominated by vested political and community interests — following the Government’s May Budget.
The fact that there is screaming from so many quarters, probably means the Budget thrust is not too far off the mark. [Read more…]
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COMMERCIAL PROPERTY stands to benefit from the recent improved business trading figures — which have soared to a 2-year high. And these now fall into line with the NAB Survey’s confidence levels.
As such, many forecasters believe these latest figures (together with the growth in house prices over the past 12 months) now reflect the underlying strength of Australia’s post-mining economy.
Therefore, further interest rate reductions expected by the RBA are unlikely to occur any time soon — if at all. [Read more…]
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THERE HAS BEEN a whole lot of negative talk recently about the detrimental impact of the Car Industry leaving Australia.
And clearly, our hearts go out to all the affected workers and their families in car manufacturing and those related component suppliers.
Most of us cannot even begin to imagine the shock and surprise they are now feeling — particularly right on Christmas.
And yet, if you just focus upon the likely impact on the Australian economy … much of the commentary can be seen as misguided. [Read more…]
