ECONOMIC INDICATORS – AUSTRALIA

Foreign banks fill lending void

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Original article by Scott Murdoch
The Australian – Page: 23 : 30-Nov-16

Data from the Australian Prudential Regulation Authority shows that the average mortgage balance has risen from $A244,000 in 2015 to $A255,000. However, the value of new home loans grew by only 0.1 per cent year-on-year in the September 2016 quarter. A recent move by Australia’s major banks to reduce their lending to residential developers has also seen the value of offshore banks’ lending to local developers rise from $A1.49bn to $A2.65bn in the last year. Meanwhile, data from the Housing Industry Association shows that sales of new detached homes and apartments fell by 8.2 per cent and 9.2 per cent respectively in October.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, HOUSING INDUSTRY ASSOCIATION LIMITED, MORNINGSTAR PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence Rating falls 2.3% to 115.5

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Nov-16

ANZ-Roy Morgan Australian Consumer Confidence fell 2.3% to 115.5 in the week ended 20 November 2016, after a 0.3% rise the previous week. The fall was driven primarily by a decline in households’ views on the economic outlook. Their views on financial conditions, on the other hand, have improved. Households’ views on economic conditions over the next 12 months and five years fell a sharp 5.6% and 7.5% respectively, partially reversing the gain over the past three weeks.. Households’ views towards their finances compared to a year ago rose 2.1% this week after a 0.8% fall the previous week. Meanwhile, households’ views towards their future finances remained unchanged after a 1.2% fall last week. Both sub-indices remain well above their long run averages.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

More than a million workers want to work longer hours

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Original article by Josh Gordon
The Age – Page: 7 : 18-Nov-16

Figures from the Australian Bureau of Statistics show a high level of underemployment. Among those with a job, 8.7 per cent of employees would like to work longer hours. Sue Richardson, from the National Institute of Labor Studies at Flinders University, says underemployment usually affects those with low levels of education because of the gradual disappearance of jobs in manufacturing.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, FLINDERS UNIVERSITY, JP MORGAN AUSTRALIA LIMITED

Spike in full-time work puts jobs market doom in shade

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 18-Nov-16

Official data shows that Australia gained a net 98,000 jobs in October 2016. The creation of 41,500 full-time jobs has offset a 31,700 fall in part-time positions during the month. The nation’s unemployment rate was unchanged at 5.6 per cent, while there was an 0.9 per cent increase in the number of hours worked. The data also shows that 133,000 part-time jobs have been created so far in 2016, while the economy has shed 89,000 full-time jobs.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, RESERVE BANK OF AUSTRALIA, COMMONWEALTH SECURITIES LIMITED, HSBC AUSTRALIA HOLDINGS PTY LTD

Trump tax cuts must be matched

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Original article by Jacob Greber, Phillip Coorey, Misa Han
The Australian Financial Review – Page: 1 & 6 : 17-Nov-16

Federal Treasurer Scott Morrison says official data showing that annual wages growth fell below two per cent in the September 2016 quarter demonstrates the need for company tax reform. He adds that Australia will become less competitive if it does not cut the tax rate and US president-elect Donald Trump reduces company taxes to 15 per cent. Business Council of Australia CEO Jennifer Westacott will also highlight the need for corporate tax reform at the organisation’s annual dinner on 17 November.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BUREAU OF STATISTICS, LIBERAL DEMOCRATIC PARTY, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, RESERVE BANK OF AUSTRALIA

Australian real unemployment now 9.2% (1.188 million Australians) in October 2016

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Nov-16

In October a total of 2.454 million Australians, 19.1% of the workforce, were either unemployed (1,188,000) or under-employed (1,266,000). This is up 256,000 (up 1.7%) from October 2015. 1.188 million Australians (up 78,000 since October 2015) are unemployed and these real unemployment figures are substantially higher than the current ABS figure for September 2016 (5.6%). Australian real unemployment was 9.2% (up 0.4% in a year and up 0.7% in a month). The problem Australia faces can be seen when comparing full-time and part-time employment: Full-time employment is now 7,594,000 – down 83,000 from a year ago (7,677,000 in October 2015). In contrast, part-time employment has increased by 193,000 to 4,069,000 over the past year (an average of just over 16,000 per month).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Investor home loans on the rise as building approvals hit peak

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 11-Nov-16

Lending to residential property investors increased by 4.6 per cent to $A12.4 billion in September 2016, from the previous month. Lending to owners-occupiers, excluding refinancing of existing mortgages, declined slightly to $A13 billion. Jo Masters, a senior economist at the ANZ Bank, says house prices continue to rise, auction clearance rates are high and building approvals are also high, but this trend may not be sustainable.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH SECURITIES LIMITED, AUSTRALIAN CONSTRUCTION INDUSTRY FORUM, HOUSING INDUSTRY ASSOCIATION LIMITED

ANZ-Roy Morgan Australian Consumer Confidence Rebounds – up 3.7pts to 117.8

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-16

ANZ-Roy Morgan Australian Consumer Confidence rose 3.2 per cent to 117.8 in the week ended 7 November 2016, entirely offsetting the decline over the previous two weeks. The bounce in consumer confidence was underpinned by a strong rise in the economic outlook sub-indices. Households’ view on economic conditions over the next 12 months jumped a sharp 7.8 per cent while views towards economic conditions over the next five years rose 5.2 per cent. Meanwhile, consumers’ views towards their finances compared with a year ago rose a solid 3.0 per cent, while households’ views towards their current finances edged 1.7 per cent higher

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Business Confidence up slightly in October to 116.2 (up 1.1%) on the back of renewed strength in primary industries Agriculture & Mining

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Nov-16

Roy Morgan Research’s Business Confidence rose 1.1% to 116.2 in October 2016. The small rise in Business Confidence occurred even though the Australian All Ordinaries fell during October – the All Ordinaries ended October at 5,402.40 (down 122.8pts from September 30). However, this fall was concentrated in the last week of the month (the All Ordinaries lost 120.9pts between October 25-31) and has fallen further in early November – now at 5,330.9 (November 7). This month’s small rise in Business Confidence means Business Confidence is now just below the 6yr average (116.6) and slightly below the ANZ-Roy Morgan Consumer Confidence October rating of 118.5.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ANZ-Roy Morgan Australian Consumer Confidence edges higher, but details remain soft

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Nov-16

ANZ-Roy Morgan Australian Consumer Confidence edged 0.4% higher in the week ending 30 October 2016, after a sharp fall in the previous week. Consumers’ views towards their future finances bounced a solid 4.3%, but that only partially offset the sharp drop the previous week. Meanwhile, views towards finances compared to a year ago declined for the fifth week in a row, down 1.1%. Households’ view on the economic conditions over the next 12 months dipped a sharp 3.2%, while views towards economic conditions over the next 5 years fell 1.6%.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ