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Stronger than expected final quarter growth (along with an upward revision to the third quarter data) has seen the Australian economy grow by 3% in 2015. The Australian economy is now growing at about its long term average pace, and much faster than the market expectation of 2.5%. The December …read more
Yesterday saw the release of the Queensland Treasury State Accounts for the third quarter of 2015. There was some predictable spruiking of the data from the Treasurer as he focused on the Trend series which shows Gross State Product (GSP) rose 0.9% q/q and 2.6% annualised. This is stronger than …read more
Third quarter GDP was up 0.9% q/q for a 2.5% increase over the year on the back of strong net exports data (as released yesterday). Net Exports contributed 1.5 ppts to growth while the big drag was capital formation (both public and private) which combined to knock 1.1 ppts off. …read more
After the surprisingly strong first quarter GDP data (see here), today sees the release of some disappointing data for the second quarter. Real GDP was up by just 0.2% for the quarter and 2.0% annually (against expectations of +0.4% and +2.2%). As we noted yesterday upon the release of the …read more
Today’s release of the Quarterly Statement on Monetary Policy (SOMP) from the RBA sees the Bank revising down their forecasts for GDP growth and inflation in coming years (available for download here). This will come as no surprise given their recent cut to the Cash Rate and the fact that …read more
The first quarter GDP data released this morning has surprised the market coming in at +0.9% (exp +0.7%) for an annual rate of +2.3% (exp +2.1%). As a result the A$ took a short rally higher; although that now appears to have rather run out of steam. Stronger growth came …read more
Treasurer Curtis Pitt has made a speech in Parliament today claiming that through the last two quarters of 2014 Queensland was in a “recession we didn’t have to have”. Putting aside the obvious political point scoring going on, is there any sense in which we can claim that Queensland has …read more
The 2015-16 Budget announced last night contains some welcome initiatives for small business. The reduction in the tax rate for small business to 28.5% will actually impact only a few companies, so the 5% tax discount (up to a max of $1,000 per individual) for small non-incorporated businesses is perhaps …read more
The March edition of The CONUS Quarterly is now available for free download. In this issue we look at today’s Q4 GDP data, what’s been going on with the A$ recently and cast our eyes over what new Treasurer, Curtis Pitt, has facing him in the Queensland economy. If you …read more
Today’s release of the fourth quarter 2014 GDP data has come in broadly in line with market expectations. Quarterly growth was +0.5% for an annual increase of 2.5%. This compares with +0.4% q/q in Q3 (revised up from +0.3%) and +2.7% ann. The main drivers of growth were net exports (largely on the back of weaker imports) which added 0.7ppts …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series