Biggest lift in housing credit growth in 3 years
Biggest lift in housing credit growth in 3 years Private sector credit; Building approvals What happened? Private sector credit (effectively outstanding loans) rose by 0.7 per cent in July to be up 4.0 per cent on a year ago – the strongest annual growth rate in over 2 years. Housing credit lifted 0.6 per cent…
Beijing bourse operating smoothly 1 year on
The Beijing Stock Exchange has operated smoothly and seen improvements in its ability to serve the innovation development of medium-sized and small businesses one year after it began trading, said the bourse. Launched on Nov. 15 last year, the Beijing Stock Exchange now has 123 listed companies and has raised 26.8 billion yuan (3.8 billion…
Treasurer moves to regulate cryptocurrency
CANBERRA, AAP – A plan for cryptocurrency regulation and an overhaul of digital payments has left some sceptical and others welcoming Treasurer Josh Frydenberg’s ambition. Bitcoin and other cryptocurrencies would emerge from the shadows under a financial licensing scheme for crypto exchanges, he announced on Wednesday. With more than 220 million participants, global cryptocurrency assets…
Housing wealth hits record high. Record prepaid & debit cards.
Housing wealth hits record high. Record prepaid & debit cards. Property prices; Credit/debit cards The Australian Bureau of Statistics (ABS) reports that the total value of Australia’s 10.72 million residential homes rose by $487 billion in the September quarter to a record $9,259.2 billion. The average Aussie dwelling price hit a record $863,700 in the…
Delivery delays as FedEx workers strike
SYDNEY, AAP – Thousands of workers at a major parcel delivery service have walked off the job across the country – the second courier strike in as many weeks – putting more pressure on the nation’s stretched postal system. Deliveries will be affected after about 2500 FedEx workers began a 24-hour strike at midnight over…
Biggest lift in consumer confidence in 22 weeks
Biggest lift in consumer confidence in 22 weeks Consumer confidence; CBA card spending; Overseas arrivals & departures What happened? The weekly ANZ-Roy Morgan consumer confidence rating rose by 3.1 per cent – the most in 22 weeks – to an 8-week high of 103.1 (long-run average 112.5 since 1990). Sentiment surged 10.6 per cent in…
Biggest fall in job ads in 16 months. Record multiple jobs
Biggest fall in job ads in 16 months; Record multiple jobs Skilled job vacancies; Labour Account What happened? Preliminary skilled job vacancies fell by 5.6 per cent (12,828 jobs ads) to 216,031 available positions in August. While it was the third monthly decline after reaching a 12½-year high in May (240,039 ads), recruitment activity is…
Lockdowns hit consumer confidence and home sales
Lockdowns hit consumer confidence and home sales Consumer confidence; Home sales What happened? The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 4.4 per cent in August to an 11-month low 104.1. All five major components of the index fell. The biggest falls in sentiment were for para-professionals and tradies (-15.2 per cent), sales and…
Snap lockdowns essential for now: Treasury
CANBERRA, AAP – Treasurer Josh Frydenberg has warned until 70 per cent of Australians are vaccinated, it is an economic imperative that governments move fast to get on top of coronavirus cases. “If they don’t, we see lengthier and more severe lockdowns which have a much more significant economic cost,” he told reporters in Canberra…
Branson flies to edge of space and back
LONDON, RAW – Sir Richard Branson hailed the “experience of a lifetime” after flying to the edge of space and back aboard Virgin Galactic’s first fully crewed flight. The billionaire businessman smiled as he headed back to the planet surface after feeling the thrill of weightlessness for several minutes on Sunday afternoon. The launch was…
