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Today saw the release of Tourism Australia’s National Visitor Survey for the Sept quarter (available for download here). It shows domestic tourism growing at almost 5% nationally but QLD, and TNQ in particular, not performing as well. Nation-wide domestic overnight visitors increased by 4.8% on the year to Sept to …read more
ABS estimated annual population growth has picked up slightly in the June from the previous quarter. Growth in Queensland increased from +1.30% to +1.35% over the quarter but remains below the national average of +1.42%. Victoria continues to lead the pack with growth picking up to +2.07% in the June …read more
The ABS release of jobs data for November contains an apparent paradox. Jobs rose strongly (up 39,100 seasonally adjusted) and yet the unemployment rate also went up (to 5.7%). As keen readers of this blog will realise the answer lies in the fact that the Participation Rate also increased (to …read more
As we have been noting for some time, the Participation Rate (that proportion of the working aged population in the labour force, i.e. either employed or counted as unemployed) has been falling for some time. On the latest data for Oct the Trend figure fell to 63.8 which is its …read more
The Mid-Year Fiscal and Economic Review released this afternoon (download here) will have made happy reading for QLD Treasurer Curtis Pitt. Surging coal royalties have resulted in a better than expected surplus and allowed the government to “splash some cash” ahead of a probable election next year. Although the fiscal …read more
There is a certain narrative doing the rounds that although the Queensland economy is recovering it is doing so largely on the basis of booming resources exports and government spending; that the private domestic sector is struggling to add to growth. There is unquestionably a valid point being made about …read more
Today saw the release of the GDP data for the third quarter. After some weak data from net exports the markets had been expecting a figure around a 0.1/0.2% decline. The result came in worse than expected at -0.5% q/q for an annual increase over the year of +2.5% or a …read more
ABS released their monthly unadjusted regional building approvals data for October this morning and we have updated our own Conus Trend series. Given the declines at a state level it is little surprise to see Trend approvals in our region also falling. At the SA4 level we see Cairns Trend …read more
Tourism continues to be a bright star in the economic firmament of Queensland, and TNQ in particular. International visitors to the state were up 13.1% for the year to Sept 2016; better than the national average of 11.5%. Even better, the growth into the Tropical North Queensland region was higher …read more
October Building Approvals from the ABS today shows a 12.6% drop m/m (-24.9% yr/yr) seasonally adjusted. The decline is being driven largely by units (-23.5% m/m and -41.8% yr/yr) while house approvals fall relatively more gradually (-2.5% m/m and -4.5% yr/yr). It would certainly suggest that the peak in unit …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series