New home sales slump to 17 month low: HIA
New home sales slumped to a 17 month low in June, adding further weight to the case for the Reserve Bank of Australia keeping interest rates on hold at their board meeting tomorrow.
Economy
New home sales slumped to a 17 month low in June, adding further weight to the case for the Reserve Bank of Australia keeping interest rates on hold at their board meeting tomorrow.
The Australian Industry Group – PricewaterhouseCoopers Australian Performance of Manufacturing Index (Australian PMI) continues to surge, up 1.5 points in July.
Australian property prices are still rising, by 15.3 percent over the last year, but by a modest 2.5 percent in the June quarter according to Australian Property Monitors.
The Reserve Bank of Australia looks set to rule out an increase in interest rates at its August board meeting after the ABS released it’s June quarter inflation (CPI) data today.
With the Australian Bureau of Statistics’ Producer Price Index figures coming in lower than expected, the chance of the Reserve Bank of Australia increasing interest rates in August has decreased with inflation likely to fall within the target 2-3 percent range tomorrow.
eChoice, the national online mortgage broker eChoice (eChoice.com.au) is predicting a flood of refinancing activity over the next 24 months, should the Australian Securities and Investment Commission’s (ASIC) review of mortgage fees help to deliver a healthier playing field for borrowers, searching for a better deal on their mortgage.
Julia Gillard has come under fire from many Australians today with her announcement of the ALP’s Climate Change policy, but the author behind a recent survey on green jobs, business & climate change has offered strong support to the policy.
Westpac’s Melbourne Institute Leading Index has peaked, but will remain well above the long term trend of 3 percent over the next three to nine months, triggering fears of a rate rise in August.
Julia Gillard has little to fear when the Reserve Bank of Australia Board meets in August, with a mid-campaign interest rate increase possible, but unlikely according to the minutes of the last RBA Board meeting.
Regulation of the housing market is seen as the “next logical step” by Australian Securities and Investments Commission chief economist Alex Erskine as the watchdog claws for power.
Merchandise imports for June were up 4 percent to $17,911 million, an increase of $621 million on May, but is unlikely to impact the RBA’s decision on rates in August.
New Zealand’s services sector continues to grow for its 8th consecutive month, according to the June BNZ – BusinessNZ Performance of Services Index (PSI).
Consumers’ inflation expectations have moderated to 3.3 percent in the July edition of the Melbourne Institute Survey of Consumer Inflationary Expectations.
Australian consumers are not happy with current standards of customer service, and are not spending as much as a result, a survey released today has found.
Australian businesses broadly support taking action on climate change, but the vast majority are uncertain about the impacts of the Federal Government’s climate change policies.
Iconic Australian surf fashion brand Billabong has agreed to buy Californian ‘progressive apparel brand’ RVCA, and plans to add Canadian brand West49 to Billabong’s collection.
The National Institute of Accountants (NIA) is using the recent tax review to urge The Government reconsider its position on the GST.
Australia’s Unified Communications (UC) market fell by nearly 20 percent in 2009, with many projects put on hold, new research has found.
Economists believe that yesterday’s positive ABS labour force data has increased the possibility that the RBA will look to tighten monetary policy as near full employment triggers inflation pressures.
In the purchase of ITA Software, Google is able to control the whole vertical for Travel and threatens both traditional travel agents as well as online ticket and booking companies.