GROSS DOMESTIC PRODUCT – AUSTRALIA

Hockey warns living standards could fall

roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 4-Dec-14

Australia’s economic growth slowed to just 0.3 per cent in the September 2014 quarter, and by 2.7 per cent year-on-year. Economic growth contracted in all states except New South Wales. The national accounts also show that Australia has entered an "income recession", with real net disposable income contracting in the last two quarters. Treasurer Joe Hockey has urged opposition parties to support government policy in the Senate, warning that a decline in living standards is likely if reforms are not implemented

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY, PALMER UNITED PARTY, BUSINESS COUNCIL OF AUSTRALIA

National income pie shrinks

roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 8 : 4-Sep-14

New figures show that there was an 0.4 per cent decline in Australia’s real net national disposable income during the 2013-14 financial year. This followed a 1.6 per cent decline in 2012-13, and it is the first time since the early 1990s that national income has fallen in two successive years. Meanwhile, wages rose by 1.3 per cent in 2013-14, while there was 0.5 per cent growth in GDP during the June 2014 quarter

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, UNIVERSITY OF MELBOURNE, RESERVE BANK OF AUSTRALIA, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA