ECONOMIC INDICATORS – AUSTRALIA

Stimulus calls to ease as mine exports surge

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Original article by Patrick Commins
The Australian – Page: 2 : 4-Dec-19

Kristina Clifton of the Commonwealth Bank says high commodity prices were a big contributor to Australia’s $7.9bn current account surplus for the September quarter. Official data shows that government spending was also higher than forecast during the quarter. The figures have strengthened expectations that the latest national accounts data will show that the economy grew by at least 0.5 per cent in the quarter, and 1.7 per cent year-on-year. This would in turn reduce pressure on the federal government to pursue stimulus measures.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence up to 108.1

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Dec-19

ANZ-Roy Morgan Australian Consumer Confidence rose 1.2% to 108.1 in the week ended 1 December, its first gain in four weeks. Households’ views towards current financial conditions fell 1.6%, while views towards future financial conditions gained 4.2%. Consumers’ views toward current economic conditions declined 4.1% to its lowest point in four years; views towards future economic conditions gained 1%, although this comes after a cumulative loss of almost 10% over the prior two weeks. The ‘time to buy a household item’ index jumped 5.3%, albeit from a 10-year low in the previous reading. The four-week moving average of inflation expectations was up 0.1ppt to 4.0%, and the weekly reading jumped from 3.8% to 4.1%.

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

Spending forecasts raise GDP fears

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Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 29-Nov-19

Data from the Australian Bureau of Statistics shows that business investment fell by 0.2 per cent in the September quarter and by 1.3 per cent year-on-year. Mining investment increased by 1.2 per cent in the year to September, while investment in equipment, plant and machinery was down 3.5 per cent. Josh Williamson of Citigroup says the latter figure is likely to reduce GDP growth in the September quarter by 0.15 percentage points.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, CITIGROUP PTY LTD

Construction falls for fifth quarter running

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Original article by Michael Bleby
The Australian Financial Review – Page: 31 : 28-Nov-19

Australian Bureau of Statistics data shows that residential construction activity fell by 3.1 per cent quarter-on-quarter in the three months to September, to $18.3bn in seasonally adjusted terms. Meanwhile, engineering construction declined by 0.2 per cent in the September quarter, to $21.1bn, although non-residential construction increased by four per cent to $11.4bn. Gareth Aird of the Commonwealth Bank says the residential construction sector continues to be a drag on the economy.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

ANZ-Roy Morgan Consumer Confidence falls to 106.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Nov-19

ANZ-Roy Morgan Australian Consumer Confidence fell 2.8% to 106.8 in the week ended 24 November, to its lowest level in more than four years. Weakness is across the board. Households’ views towards current financial conditions fell 0.1%, while views towards future financial conditions plunged 4.4%; current financial conditions are still above average, but future conditions are now below average. Consumers’ views toward current economic conditions fell 1.3% to a four-year low, and views towards future economic conditions declined 4.6% to an all-time low. The ‘time to buy a household item’ index was also at a multi-year low, falling 3.3%, but the four-week moving average of inflation expectations was stable at 3.9%.

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

ANZ-Roy Morgan Consumer Confidence down to 109.9

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-19

ANZ-Roy Morgan Australian Consumer Confidence fell 1.1% to 109.9 in the week ended 17 November. Households’ views towards current financial conditions fell 2.6%, while views towards future financial conditions declined by 4.9%; both these subindices are near their multi-year lows. However, consumers’ views toward current economic conditions rose 0.3% and views towards future economic conditions gained 0.2%. The ‘time to buy a major household item’ index gained 0.4% after falling 3.9% in the previous week. The four-week moving average of inflation expectations declined by 0.1ppt to 3.9% as the weekly reading fell to 3.8%, its lowest level since the end of June.

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

$25k gap shows gender pay parity a distant dream

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Original article by Stephen Lunn
The Australian – Page: 2 : 19-Nov-19

New data from the Workplace Gender Equality Agency shows that the gender pay gap has narrowed by 0.5 per cent in 2019, to 20.8 per cent. Meanwhile, the agency’s latest gender equality scorecard shows that more than 50 per cent of employers have yet to introduce employer-funded paid parental leave, while the proportion of female CEOs remains unchanged at 17.1 per cent. However, WGEA director Libby Lyons notes that more employers are now offering paid domestic violence leave.

CORPORATES
AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY

Soft growth in wages points to sluggish economy

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Original article by
The Australian – Page: 27 : 14-Nov-19

Official data shows that wages grew by 0.5 per cent in seasonally adjusted terms in the September quarter, and by 2.2 per cent year-on-year. This compares with growth of 0.6 per cent in the June quarter and 2.3 per cent in the year to June. Wages in the public sector increased by 2.5 per cent in the year to September, while private sector wages increased by 2.2 per cent. Sarah Hunter of BIS Oxford Economics says that given the state of the economy, a significant uptick in wages is unlikely in the near-term.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, BIS OXFORD ECONOMICS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, INDEED INCORPORATED

Real unemployment & under-employment above 2.3 million

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Nov-19

The latest data for the Roy Morgan employment series shows that 12,714,000 Australians were employed in October 2019, up 520,000 over the past year. The rise in employment was driven by a significant increase in full-time employment of 695,000 over the last year (to 8,582,000); however, part-time employment has declined by 175,000 over the past year (to 4,132,000). The figures also show that 1,075,000 Australians (7.8% of the workforce) were unemployed in October, down 190,000 on a year ago, and the unemployment rate was down 1.6%. An additional 1,232,000 Australians (8.9% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 10,000 in a year (down 0.3%). In total, 2,307,000 Australians (16.7% of the workforce) were either unemployed or under-employed in October, down 200,000 on a year ago. Roy Morgan’s real unemployment figure of 7.8% is higher than the current ABS estimate for September 2019 of 5.2%, although the gap between the two measures is the closest it has been since September 2015. Roy Morgan CEO Michele Levine says the best way to reduce the high level of labour under-utilisation, now stuck at over 2 million for over four years, is to provide a healthy and strong economy that encourages businesses to invest in growing their human capital by hiring new workers.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence down to 111.1

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Nov-19

ANZ-Roy Morgan Australian Consumer Confidence fell 2.1% to 111.1 in the week ended 10 November. Households’ views towards current financial conditions fell 3.2%, while views towards future financial conditions declined by 1.6%. Consumers’ views toward current economic conditions fell 1.6%, but views towards future economic conditions gained 0.3%. The ‘time to buy a major household item’ declined 3.9% after a gain of 1.3% in the previous week. The four-week moving average of inflation expectations remained stable at 4.0%, although the weekly reading saw an increase to back above 4%.

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