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Today saw the release of the original regional building approvals data from the ABS for July. Last week we saw QLD’s Trend approvals drop by 0.3% m/m and 1.9% y/y (see here for details). Today’s data (when seen through the lens of the Conus Trend series) shows us that those …read more
The second quarter GDP data released this morning came in somewhat higher than expectations (although the better than expected numbers came about largely from “statistical discrepancy’ adding 0.2 ppts). The market had been looking for real GDP to lift 0.7-0.8% for the quarter to give a 2.7% y/y figure. The …read more
ABS data for July residential building approvals show them down 5.2% m/m, -5.6% y/y (seasonally adjusted) after a solid move higher last month (which was revised slightly higher still). The less volatile Trend series shows a m/m decline of 1.3%, down 2.5% y/y; this is the first year-on-year decline in …read more
Today’s Conus/CBC Staff Selection Regional Employment Trend data allow us to take a look at what is happening across Queensland with regard to the split between Greater Brisbane and the Rest of Queensland; and what it shows us is that the regions are currently doing rather better than the capital. …read more
The ABS release of their original labour force July data for the regions today allows us to update our own Conus/CBC Staff Selection Regional Employment Trend data. We see Trend employment in Cairns lifted 1,000 in July (after June’s increase was also revised up) with 900 of those positions in …read more
Today’s data from the ABS of Short Term Arrivals and Departures for June confirms the slowdown in the growth of Chinese tourism into the country. While arrivals into Australia grew 5.4% y/y (seasonally adjusted) the number from China was unchanged (seasonally adjusted) since last year and up just 2.3% on …read more
The July labour force data released today was a mixed bag at the national level. Although (seasonally adjusted) employment dipped by 3,900 we saw the unemployment rate also dip to 5.3%. The reason…a decline in the participation rate. The average hours worked per member of the working age population remained …read more
Today saw the release of the June quarter Wages Price Index, and it shows us growth in wages stuck at the (expected) annual rate of 2.1%. Quarterly growth lifted a touch from the previous quarter (again, as expected) to register a 0.6% increase. When considering the split across the private …read more
Today saw the release of the ABS original regional building approvals data for June. Last week we saw the Trend data for Queensland showing a 5.2% decline for the year; today’s data (when seen through the Conus Trend series) confirms that this slowdown is all due to the regions. For …read more
The June Building Approvals data out today doesn’t really tell us anything we didn’t already know. Approvals were up 6.4% m/m (seasonally adjusted) after some upward revision to May’s numbers for a 1.6% y/y increase. However, for this highly volatile data-set (because of the very lumpy nature of large scale …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series