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Today saw the release of the ABS labour force data for Jan. What it showed was a drop of 12,200 jobs (seasonally adjusted) and an unemployment rate that jumped from 6.1% to 6.4%. However, even within these wildly volatile seasonally adjusted data are signs that we need to be careful before getting …read more
Despite some improvement in the residential building approvals in QLD (see here), today’s release by the ABS of the regional approvals for Dec shows a slight dip in the Far North council areas. The headline figures show a total of 50 approvals for Cairns (incl Douglas) and 3 for the …read more
Given the fact that the RBA cut the Cash Rate by 25bps earlier this week it will have come as no surprise to anyone that today’s release of the February Statement on Monetary Policy (SOMP) sees a revision down of growth and inflation forecasts. The table below details these revised …read more
The ABS released monthly (current prices) retail trade data for Dec today which showed national sales up 0.2% (seasonally adjusted and Trend) which was below market expectations of +0.3%. They also released quarterly data on a “chain volume” (essentially inflation-adjusted) measure which showed sales rose 1.5% q/q (seasonally adjusted) and …read more
The fall in inflationary pressures evidenced by the official CPI data last week (see here for commentary) is further emphasised by today’s release of the Cost of Living (COL) Indexes. The COL Indexes are designed to answer the question “By how much would after tax money incomes need to change to …read more
Just a few days ago we posted explaining why we thought the RBA would not be cutting the Cash Rate today (you can read it here), but we have been proven sadly wrong with the RBA cutting 25bps from the Cash Rate to 2.25% at today’s Board meeting. Clearly Terry …read more
After last months very strong Building Approvals data (see our post here) the market had been expecting a fall of 4.8-5.0% for the Dec data. In actual fact the monthly seasonally adjusted decline was just 3.3% for a 8.8% increase over the year. In addition the previous month’s data was …read more
Just after Christmas The Cairns Post ran an article highlighting the differences between our own Conus Trend and that calculated by Rick Carr at Herron Todd White, when we both came up with some significantly different numbers for the Nov data (see my post on the article here). Today sees …read more
Tuesday sees the first of the RBA Board meetings for the year and therefore the first opportunity for the Bank to move on interest rates…if it wants to. There has been much speculation in recent days suggesting that the Bank might be looking to cut the Cash Rate by 25bps …read more
Today saw the release of the Q4 inflation date. Headline CPI was up just 0.2% q/q for an annual increase of +1.7% (down from +2.3% in Q3), this was a little weaker than the market had been expecting and falls outside the RBA’s 2-3% target range. However, the measures more …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series