by Stephen Roberts | 20 May, 2013 | Economics, Laminar Economist Stephen Roberts
The regular monthly economic indicators of the health of the US and Chinese economies have turned mixed over the past month or so leading many analysts to warn that global growth may weaken. Our view is the opposite of the weaker growth consensus. We see US economic...
by Stephen Roberts | 15 May, 2013 | Economics, Laminar Economist Stephen Roberts
The Budget helps preserve Australia’s AAA credit rating, will not detract from economic growth through 2013-14 and is better than its predecessors under the current government in that expenditure savings and tax increases will come into effect ahead of...
by Stephen Roberts | 13 May, 2013 | Economics, Laminar Economist Stephen Roberts
The number of new housing finance commitments to owner occupiers jumped by a stronger than expected 5.2% in March building on gains of 2.1% in February and 0.7% in January. Excluding refinancings, home loan commitments jumped an even stronger 6.8% in March. The...
by Stephen Roberts | 13 May, 2013 | Economics, Laminar Economist Stephen Roberts
The surprise policy move by the RBA last week, cutting the cash rate by 25bp to a record low 2.75% is unusual in that it represents a further easing of an already very accommodating policy setting at a time when there is ample evidence that growth in household...
by Stephen Roberts | 9 May, 2013 | Economics, Laminar Economist Stephen Roberts
April employment rose much more strongly than expected, up 50,100 (consensus +11,000) after the fall in March was revised to 31,200 (-36,100 originally) and a revised 71,700 gain in February. Ironing out the lumps and bumps in the monthly data, employment rose an...
by Stephen Roberts | 7 May, 2013 | Economics, Laminar Economist Stephen Roberts
The RBA cut the cash rate by 25bp to 2.75%, contrary to our view that rates would be stable. Much of the accompanying statement was relatively upbeat about economic conditions noting that housing and consumption spending was starting to respond to earlier rate cuts....
