Is Australia officially in a Recession
Jul 19th 2012, 10:01 am
#16
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Location: The REAL Utopia.
Posts: 9,910
Re: Is Australia officially in a Recession
Thanks for the sarcasm lesson, if a graph is heading up it is increasing. Whether the increase is indicative of an impending recession noone knows.
Jul 19th 2012, 10:48 am
#17
Daffyd Duck
Joined: Jul 2008
Location: Paradise
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Re: Is Australia officially in a Recession
http://www.tradingeconomics.com/char...01&d2=20120719
I don't think you can really claim unemployment is rising. Variations by a few tenths of a percentage point hardly amount to a rise consistent with a recession.
I don't think you can really claim unemployment is rising. Variations by a few tenths of a percentage point hardly amount to a rise consistent with a recession.
EMPLOYED PERSONS
UNEMPLOYMENT RATE
Jul 19th 2012, 10:59 am
#18
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Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is Australia officially in a Recession
I would be interested to see what the REAL unemployment % is, not the heavily massaged Government figure.
Jul 19th 2012, 11:01 am
#19
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Joined: Dec 2003
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Re: Is Australia officially in a Recession
Thank you commonwealth. I like your trends.
Last edited by lesleys; Jul 19th 2012 at 11:04 am.
Jul 19th 2012, 11:11 am
#20
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Location: The REAL Utopia.
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Re: Is Australia officially in a Recession
http://www.heraldsun.com.au/business...-1226363543054
I love these comments
'"It's like Disneyland," she said.
"It is like we're being governed from another world.
"The two-speed economy, I think, is Canberra versus the rest."
Gotta love Governments
I love these comments
'"It's like Disneyland," she said.
"It is like we're being governed from another world.
"The two-speed economy, I think, is Canberra versus the rest."
Gotta love Governments
Jul 19th 2012, 11:16 am
#21
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Is Australia officially in a Recession
and since you've started the AU v. UK thing again...if you want to compare official government figures between countries, here's what you get:
- Australia (5.2%)
- Germany (5.4%)
- New Zealand (6.7%)
- Canada (7.2%)
- United Kingdom (8.1%)
- United States (8.2%)
- France (10.2%)
- Ireland (14.9%)
- Greece (22.6%)
- Spain (24.3%)
Jul 19th 2012, 11:20 am
#22
Daffyd Duck
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: Is Australia officially in a Recession
http://www.heraldsun.com.au/business...-1226363543054
I love these comments
'"It's like Disneyland," she said.
"It is like we're being governed from another world.
"The two-speed economy, I think, is Canberra versus the rest."
Gotta love Governments
I love these comments
'"It's like Disneyland," she said.
"It is like we're being governed from another world.
"The two-speed economy, I think, is Canberra versus the rest."
Gotta love Governments
this is the laughable Roy Morgan "research" with a questionable sample size and methods."Roy Morgan also claims the Sydney Swans have 1.1 million supporters; more than even Collingwood."
Jul 19th 2012, 11:59 am
#23
BE Forum Addict
Joined: Feb 2010
Location: Amongst Melbourne's tall gum trees
Posts: 1,323
Re: Is Australia officially in a Recession
under the law, the ABS is independent from the sitting government.
and since you've started the AU v. UK thing again...if you want to compare official government figures between countries, here's what you get:
and since you've started the AU v. UK thing again...if you want to compare official government figures between countries, here's what you get:
- Australia (5.2%)
- Germany (5.4%)
- New Zealand (6.7%)
- Canada (7.2%)
- United Kingdom (8.1%)
- United States (8.2%)
- France (10.2%)
- Ireland (14.9%)
- Greece (22.6%)
- Spain (24.3%)
I knew we had to be better at something 
Oh wait...
Jul 19th 2012, 3:36 pm
#24
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Is Australia officially in a Recession
no
Jul 19th 2012, 5:49 pm
#26
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Posts: 312
Re: Is Australia officially in a Recession
Parts of Australia are, parts of it aren't. The southeastern states seem to be struggling, whereas WA is likely to continue with strong growth for years to come, albeit with the problems of high prices and inflated property prices. Here in the UK London's economy seems to be picking up strongly and the employment market is seeing strong growth and the housing market doesn't seem to have dipped at all with prices going back up, but the north is undoubtedly struggling with house prices stagnating. There;s economic oasis in every country but no country is immune and outside the resources sectr Australia is no exception...
Jul 19th 2012, 5:52 pm
#27
Love Machine
Thread Starter
Joined: Jun 2010
Posts: 150
Re: Is Australia officially in a Recession
Recession is officially two consecutive quarters of negative growth - so no, we're not there yet.
Many professionals and experts around the world believe that a true economic recession can only be confirmed if GDP (Gross Domestic Product) growth is negative for a period of two or more consecutive quarters.
The roots of a recession and its true starting point actually rest in the several quarters of positive but slowing growth before the recession cycle really begins. Often in a mild recession the first quarter of negative growth is followed by slight positive growth, then negative growth returns and the recession trend continues.
While the “two quarter” definition is accepted globally, many economists have trouble supporting it completely as it does not consider other important economic change variables. For instance, current national unemployment rates or consumer confidence and spending levels are all a part of the economic system and must to be taken into account when defining a recession and its attributes.
Many professionals and experts around the world believe that a true economic recession can only be confirmed if GDP (Gross Domestic Product) growth is negative for a period of two or more consecutive quarters.
The roots of a recession and its true starting point actually rest in the several quarters of positive but slowing growth before the recession cycle really begins. Often in a mild recession the first quarter of negative growth is followed by slight positive growth, then negative growth returns and the recession trend continues.
While the “two quarter” definition is accepted globally, many economists have trouble supporting it completely as it does not consider other important economic change variables. For instance, current national unemployment rates or consumer confidence and spending levels are all a part of the economic system and must to be taken into account when defining a recession and its attributes.
Jul 19th 2012, 5:56 pm
#28
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is Australia officially in a Recession
Yes that is certainly what I am seeing.
Parts of Australia are, parts of it aren't. The southeastern states seem to be struggling, whereas WA is likely to continue with strong growth for years to come, albeit with the problems of high prices and inflated property prices. Here in the UK London's economy seems to be picking up strongly and the employment market is seeing strong growth and the housing market doesn't seem to have dipped at all with prices going back up, but the north is undoubtedly struggling with house prices stagnating. There;s economic oasis in every country but no country is immune and outside the resources sectr Australia is no exception...
Jul 19th 2012, 5:59 pm
#30
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Joined: May 2012
Posts: 312
Re: Is Australia officially in a Recession
The only figure I would trust on there is the german one. Spain's unemployment rate is shocking, but disguises a massive black economy which exists in all southern european states. i was in Spain the other week at my dads villa. Most of the wealthy spaniards and north europeans who live there seem to be doing fine. He's had it for years and spends about 3 months of the year there. All the expats in Spain seem to live in their own economy outside of the offical figures. Most of them have property in the UK and live the comfortable lifestyle of the babyboomer generation with good pensions but some of the mugs that decided to move out there in their 40s thinking meagre savings and a strong exchange rate was gong to keep them comfortble forever have been well and truly burnt...