Leith van Onselen considers that Australia’s non-mining economy may be in recession based on two consecutive quarters of negative growth in state final demand:
The blanket statement that Australia grew close to trend in 2012 not only obfuscates the fact that the current growth rate is well below trend and declining even further but also hides the fact that the majority of the population are living in regions which are in recession. That paints a totally different picture than the political spin coming from the Government.
Read more at Non-mining Australia “in recession” last quarter | | MacroBusiness.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
I think as good an indication of recession is that in the last two years we now have six sales a year in Australia as opposed to the twice yearly Boxing day and end of financial year sales in July.. I don’t know how many retailers are surviving when they only sell good with 30 – 50% off sales year round.. The overall GDP figures look good when the WA resource sales to CHINDIA are added to the rest of the country. We have become a country of 2 economies – WA and the rest..
bullshit. ask Greece or Romania aout the r word.