Australia's economic slowdown is likely to become more entrenched with business conditions and confidence falling further last month.The sharp decline in business conditions and confidence late last year continues into 2019Retail, and in particular household goods and car sales, are the weakest sectors overall
The highly-respected NAB business survey found there had been a broad-based decline in conditions, with key forward-looking indicators pointing to ongoing weakness.far weaker than expected fourth quarter GDP results"The decline in conditions was relatively broad-based in the month and continues a relatively sharp decline over the previous six months," NAB chief economist Alan Oster said.
The weakness is broad-based across retail sub-industries, but weakest in car retailing and household goods. Jobs remained the one bright spot in the numbers, with the employment index remaining fairly resilient in the face of clearly deteriorating conditions and falling confidence.
Australians are terrified that labor will get in and Australia will go down the gurgler.
At the same time billshortenmp is contemplating increasing the minimum wage. Makes perfect sense.
The econ is slipping into recession yet we r importing Pacific n Timorese workers Any labor scheme'd become out of control 5yrs down d track we'd have 1000s stay illegally just like 457visas We'd get violent Port Moresby gangs
Looks like AustralianLabor is going to inherit a recession. Times are going to get tough.
Blame Labor for it, as for 6 years they haven't been able to get to power while best economy managers were running business...
You don’t need a survey, just walk around a shopping centre and see the empty shops.
The country is fearful of a Socialist government and a PM that will wreck this country...... that’s the truth....
The LNP recession? Thanks to thr policies of ScottMorrisonMP, JoshFrydenberg, etc. AusPol
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Business Brief: 'PM's economic credentials tied to budget success' | Sky News AustraliaFULL INTERVIEW: Managing Director of Market Economics Stephen Koukoulas says 'resilient' commodity prices are 'conflicting news' when coupled with the recent disappointing GDP results as Treasury prepare for the upcoming budget release on April 2.\n\nMr Koukoulas says there's a lot of market attention on whether the budget should include 'fiscal stimulus measures' but insists it depends on 'what the bottom line is going to be'.\n\nHe says Treasurer Josh Frydenberg and Prime Minister Scott Morrison have 'pinned their economic credentials' on being able to deliver a surplus in the 2019-20 budget.\n\nThe April budget will be the first delivered by Josh Frydenberg after his appointment to Treasury in August last year.\n\nImage: News Corp Australia\n\n\n\n\n\n\n\n\n\n\n TheKouk JoshFrydenberg ScottMorrisonMP Its Not a surplus when its only a prediction. They have more than doubled our National Debt TheKouk JoshFrydenberg ScottMorrisonMP That photo reminds me of Dumb & dumber.. TheKouk JoshFrydenberg ScottMorrisonMP shhhh!!! dont mention per capita recession. For 6 years LNP killed the ecomony by forcing low wages & taking every single dollar from family payments, this combined, family budgets squeezed, EVERYTHING up 3 or 4 times inflation. Families struggling but dont expect LNP to get it.
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Business Brief: Market braces for soft reading on economic growth | Sky News AustraliaCommsec's Tom Piotrowski says the market is 'bracing for a soft reading' on economic growth over the course of the December quarter with Australian Bureau of Statistics set to release the national accounts on Wednesday.\n\nMr Piotrowski says there is a consensus that the economy will have expanded by 0.3 per cent, to come in at an annualised rate of 2.6 per cent, standing below the RBA's forecasts of full-year growth.\n\nSpeaking with Sky News, Mr Piotrowski says the results are expected to spark discussion about whether or not the RBA is being 'too ambitious' with its full-year forecasts.\n\n\n
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