October 26, 2009
According to the Australian Bureau of Statistics the country’s Producer Price Index rose 0.1% in the September quarter verus the June quarter and 0.2% on a year ago. The rise was attributed to price increases in electricity, gas and water, bakery product manufacturing and petroleum refining.
The ABS said the price increases were partially offset by price decreases in computer services and industrial machinery and equipment manufacturing.
At an intermediate stage, PPI dropped 0.6% and 4.9% compared to the previous quarter and the September 2008 quarter respectively.
The fall was largely attributed to price decreases in coal mining, property operators and developers, iron and steel manufacturing, and computer services. However, this was partially offset by price increases in oil and gas extraction (+19.0%), petroleum refining and electricity, gas and water supply.
At the preliminary stage, PPI slid 0.5% and 7.5% on the previous quarter and the September quarter 2009 respectively.
October 8, 2009
According to the Australian Bureau of Statistics Labour Force Report, the nation’s unemployment rate decreased 0.1% to 5.7% in September. The ABS said employment increased a seasonally adjusted 40,600 to 10,805,600 and of those newly employed 35,400 were in full-time positions.
Unemployment decreased by 3,800 to 658,600, however the number of persons looking for full-time work increased by 9,500 to 497,400. The number of people looking for part-time work decreased by 13,300 to 161,200.
During September part-time employment increased by 5,200 to 3,215,800.
Looking at the genders, the male unemployment rate decreased 0.1 pt to 5.8%, and the female unemployment rate remained at 5.6%.
The number of people looking for employment increased 0.1 pt to 65.2%.
Finally, the aggregate monthly hours worked increased 13.4 million hours to 1,522.4 million hours.
October 6, 2009
After 18 months of declining construction activity, Australia’s national construction activity returned to growth in September, according to Australian Industry Group/Housing Industry Association Performance of Construction Index. The growth was largely driven by stronger demand in the housing building sector.
The measure, known as the Australian PCI, rose 8.4 points to 50.8. A measure of 50 is regarded as the cut-off between contraction and expansion.
Looking to the reasons for growth, the industry body said low interest rates, combined with the first homeowners grant was a key driver for the positive result.
It was the third consecutive month of growth in free-standing home construction.
Rather ominously interest rates moved off 49-year lows yesterday, while the extended homeowners grant finished last week.
Across sectors, apartment, engineering and commercial construction sectors remained under pressure.
The Australian Industry Group associate director, Economics and Research, Tony Pensabene, said that despite the good result the sector remained volatile.
”Industry conditions remain tough overall with companies facing intense competition to secure new contracts amid the on-going difficulties of tight credit conditions and poor investor sentiment,” Mr Pensabene said.
”While this persists, growth will be held back and conditions are likely to remain fragile."