Business investment declines counter to all desires of the RBA.
Consumer confidence is at a four year low and is a worrying sign leading up to Christmas.
#Retail #Recession #HeiseSays Retail levels have crashed to levels not seen since the 1990’s recession. References Retail slumps to ‘weakest’ level since 1990s recession as tax cuts fail to stimulate consumer spending https://www.theage.com.au/politics/federal/worrying-sign-retail-slumps-to-worst-performance-since-last-recession-as-jobs-weaken-20191104-p5378r.html?fbclid=IwAR3h2VWqEkoJQJPDUX36h12CN9x7UMbpKce448y28rwZjEpYBcymiA8l87M
#Eftpos #Australia #HeiseSays Eftpos transaction fees are being passed onto consumers with greater frequency. Luck we still have cash….oh. References
#Business #Recession #Economy #HeiseSays Consumer sentiment hits a four year low. References https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/economics-research/er20191009BullConsumerSentiment.pdf
#Economy #Houing #Recession Frydenberg pins hope on soaring Housing Prices to save the economy. References Treasurer Josh Frydenberg is ‘optimistic’ soaring house prices will get the Australian economy roaring again, but experts aren’t sold https://www.businessinsider.com.au/treasurer-josh-frydenberg-house-prices-property-market-rba-2019-9?fbclid=IwAR1nu0cFAt13shSTNJPv-cxiMlAa_m3l8IslYsNb-24Rw9Ax9dozcH0SPSo
#Recession #Economy #Petrol Petrol prices soared recently in Australian and have remained high. References Petrol prices stay high despite global oil prices falling to pre-attack levelshttps://mobile.abc.net.au/news/2019-09-27/petrol-prices-stay-high-despite-oil-falling-to-pre-attack-level/11549550?section=business
#Recession #Economy #Australia Surprisingly household spending intentions are looking up. A temporary blip or a change in trend? Household Spending Intentions Series. September 2019 https://www.commbank.com.au/content/dam/commbank-assets/business/insights/2019-09/cba-hsi-sep19.pdf
#Economy #Recession #RBA The RBA is uncertain why the Australian economy is slowing down. And they are our central planners’ people. References RBA notes ‘unexplained’ reasons beyond the drought are slowing the Australian economyhttps://www.news.com.au/finance/economy/australian-economy/rba-notes-unexplained-reasons-beyond-the-drought-are-slowing-the-australian-economy/news-story/1cb9175850390cdc2650d632eaca5e63
#ConsumerConfidence #Westpac #Retail Westpac has reported that Consumer Confidence is up in August. A sign that the retail recession is turning around or simply the result of the tax rebate and the start of a new financial year? Let’s make sure to check next month when people receive the credit card bills. References Investopia Westpac […]