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Well it was bound to happen sooner or later. After a series of months when the labour force data has surprised on the upside January’s numbers have shocked on the downside. The seasonally adjusted series showed 7,900 jobs lost in the month with a thumping 40,600 reduction in full-time positions. …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
Today’s release of Building Approvals data for December were somewhat higher than expected generally, and show QLD doing better than the nation as a whole. The seasonally adjusted data for Australia showed approvals were up 9.2% m/m for a 2.5% decline over the year (the market had been tipping a …read more
Today’s release of the (unadjusted) ABS labour force data for regions allows us to update our own Conus Trend series for the Queensland regions. In Cairns we saw the Conus Trend unemployment rate fall to 7.2% (7.5% in Nov); its lowest level since Aug 2011. Trend employment in Dec increased by …read more
I’ve been away enjoying some snow in Japan so have missed the past two week’s of data since the New Year. This post is an abridged version to simply update some charts and make a few comments… Building Approvals. The November nationwide approvals numbers (seasonally adjusted) saw a big dip …read more
The Tourism Research Australia National Visitor Survey for the year to Sept 2015 saw the total number of domestic visitors jump by 7% to 85.3 million. Those travelling to Queensland were stronger still, up 7.9% to 19.8 million (which saw the Sunshine State’s share of the domestic market improve slightly …read more
After last month’s stellar jobs data (see here for commentary) it was widely expected that the November data would show a decline in employment and a possible move in the unemployment rate back up to 6%. Nothing could have been further from the numbers we saw this morning! The ABS …read more
Today saw the release of the International Visitor Survey for the Sept quarter from Tourism Research Australia (you can access the full report here). It shows a very solid growth of total international visitors to Australia for the year to Sept, up 6.6% over the year. Expenditure rose by 15.2% …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
Ahead of tomorrow’s release of the GDP data for the third quarter today’s better than expected Building Approvals for Oct might be interpreted as looking positive for growth. But we need to temper our excitement about what the (highly volatile) headline numbers are telling us. Firstly, to the numbers themselves. …read more
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