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The Westpac-Melbourne Institute Consumer Sentiment survey has found that Australians haven’t been this gloomy since the 1990s recession. The last Reserve Bank Board meeting pointed out that the key economic indicators it is following for future interest rate decisions are the labour market (which, as we now know continues to be tight) and household confidence… Read more »
Consumers have gone so deep into the bunker and reigned in their spending so much that we are all but in an economic recession, except by name. Don’t be fooled by the latest economic growth figures for the March to June quarter. Yes, it’s looking in the rear-view mirror a fair way back, but that’s… Read more »
Yet another fast and furious profit reporting season is over. We get bombarded with so much information that it’s pretty hard to get perspective on what actually happened. That’s why I always look forward to CommSec’s wrap up of reporting season to provide the overview. Here’s summary of CommSec’s key takeaways from this year. Aggregate… Read more »
I reckon the backlash against Qantas, its chief executive, its board of directors and the Prime Minister is because every travelling Australian is stunned by the continuing high cost of airfares. When Qantas does a cosy deal with the Federal Government to stop more competition and more flights, which would bring down airfares, we justifiably… Read more »
While the Federal Treasurer and PM put on dour faces and complain about how tough the impact of higher interest rates and inflation is having on the average Australian… they are quietly counting the dollars they’re reaping in the background. Yes, iron ore and coal exports have been booming and the lower Australian dollar is… Read more »
Good news for renters – there are some early signs that the rent crisis is starting to soften. Over the last couple of weeks I’ve been writing about emerging signs that the horrendous spike in rents is turning, despite what’s currently coming through in the CPI figures. There were more signs of that this week.… Read more »
Australian household savings rates have reached lows not seen for more than 15 years. Australians built a huge savings war chest during COVID (lockdowns prevented us going out and spending) which has helped us fight inflation and rising mortgage repayments. We’ve dipped into our savings to cover the cost increases and still maintain our spending.… Read more »
The Aussie dollar has dropped sharply to a nine-month low and that impacts everyone. Our Australian dollar has dropped sharply over the last couple of weeks to a nine-month low. And the fact that our interest rate cycle is peaking while other countries are still raising rates is also dampening the value of the Aussie… Read more »
I know you’re sick of me always saying you need to constantly shop around for the best deals on everything. But it’s so important. Those who have been following me for a while know my wife Libby is the world’s best when it comes to household finances… she has managed ours ever since we were… Read more »
More signs that Australian consumers are locking down in the bunker. While official retail sales have been weak for a couple of months as higher loan repayments take cash out of pockets, a new Commonwealth Bank report shows consumers continued to tighten their belts in July, with spending growth declining nationally to just 1.3 per… Read more »
