Is Australia officially in a Recession
#31
Just Joined
Joined: May 2011
Posts: 26
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%)
#32
Re: Is Australia officially in a Recession
perception v reality. aussies are a bunch of whiner^ and magnifies the perception of 'recession' but when you look at hard data it's not as bad as what people think.
^(as you know aussies are the world's superwhiners with a bunch of 1st world problems like madonna canceling her oz tour)
^(as you know aussies are the world's superwhiners with a bunch of 1st world problems like madonna canceling her oz tour)
#33
Just Joined
Joined: Jul 2012
Posts: 3
Re: Is Australia officially in a Recession
you cannt consider that OZ is officially in a Recession because government didnt officially say that the economy is Recession
#35
Re: Is Australia officially in a Recession
Just look at the cost of everything in Australia it's horrendous.
You guys are getting royally shafted and its just going to get worse i'm afraid.
You guys are getting royally shafted and its just going to get worse i'm afraid.
#36
Re: Is Australia officially in a Recession
i'd rather have inflation than deflation. most growing economies deal with inflationary pressures.
and are you coming to Aust with GBPs in ur pocket or you're already earning AUDs?
and are you coming to Aust with GBPs in ur pocket or you're already earning AUDs?
#37
BE Enthusiast
Joined: Sep 2008
Location: Perth.
Posts: 425
Re: Is Australia officially in a Recession
I've not seen anything of a recession yet. In the UK it wasn't an issue (the wife and I both had good jobs, all our friends were employed) , and now in WA everything is booming.
Just one of the lucky few I guess.
Last edited by Bibbs; Jul 20th 2012 at 4:35 am.
#38
Forum Regular
Joined: May 2010
Location: Sydney
Posts: 110
Re: Is Australia officially in a Recession
"With prices rising and unemployment rising has recession finally come to Australia."
Australia's inflation rate is at its lowest point in many years:
http://www.smh.com.au/business/impor...720-22emr.html
Australia's inflation rate is at its lowest point in many years:
http://www.smh.com.au/business/impor...720-22emr.html
#39
Re: Is Australia officially in a Recession
"With prices rising and unemployment rising has recession finally come to Australia."
Australia's inflation rate is at its lowest point in many years:
http://www.smh.com.au/business/impor...720-22emr.html
Australia's inflation rate is at its lowest point in many years:
http://www.smh.com.au/business/impor...720-22emr.html
I reckon it's those who are only migrating now that find the prices to be increasing because of the FX rate factor. But for someone already earning AUDs the price increases are not as bad as what many whining Aussies would like to portray.
#40
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Is Australia officially in a Recession
One thing we have noticed since being back in the UK is how cheap many things are, especially food, compared to Australia.
#41
Re: Is Australia officially in a Recession
of course when you consider the current exchange rate (the high AUD which you took advantage of when you left), everythings's gonna be cheaper outside australia.
#44
Re: Is Australia officially in a Recession
Probably a good idea from the average UK punters point of view... because at 69,170 average wage across the country, at current rates that would be 45,944 pounds, which I think most people in the UK would love to earn. Thats got to be 50pct more than the average UK wage hasn't it ? and prices aren't 50pct higher here.
Hence I think we can afford high prices.... Apparently the Aldi inspired Coles/Woolies war has caused deflation in grocery prices over the last 3 years.
I guess my next statement applies to most people in their 50's around the world.... But hell I've never been so well off.
Wife just got a decent pay rise this week as well.... They settled the Mental Health Nurses pay dispute... Back pay from March as well.,
Hence I think we can afford high prices.... Apparently the Aldi inspired Coles/Woolies war has caused deflation in grocery prices over the last 3 years.
I guess my next statement applies to most people in their 50's around the world.... But hell I've never been so well off.
Wife just got a decent pay rise this week as well.... They settled the Mental Health Nurses pay dispute... Back pay from March as well.,
Last edited by ozzieeagle; Jul 20th 2012 at 11:53 pm.
#45
Banned
Joined: Jul 2012
Posts: 3,300
Re: Is Australia officially in a Recession
New to the forum but no better place to start than talk of a recession! No, it is not technically in recession, but it could well be next year as China's ten year construction boom is now over. We're already seeing redundancies in the mining sector which has been allowed to grow far too big in the economy.
I guess the plan will be to start slashing rates all the way down to UK levels to keep the house prices from falling to sensible levels.