Is Australia officially in a Recession
Jul 23rd 2012, 8:08 am
#76
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Re: Is Australia officially in a Recession
This would tie in with your timescale.
http://www.news.com.au/business/comp...-1226432399955
http://www.news.com.au/business/comp...-1226432399955
China's not going anywhere, but China has a lot of internal problems to deal with, and collapsing demand from the West (especially basketcase EU) for its products couldn't come at a worse time. I'm not predicting the end of the world, just that Australia could go into recession in the next 18 months for the reasons I say - too big a mining sector and a rapidly decelerating China.
Jul 23rd 2012, 8:40 am
#77
Daffyd Duck
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Re: Is Australia officially in a Recession
This would tie in with your timescale.
http://www.news.com.au/business/comp...-1226432399955
http://www.news.com.au/business/comp...-1226432399955
Jul 23rd 2012, 9:22 am
#78
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Re: Is Australia officially in a Recession
Seeing as the economy relies totally on mining to grow at all if mining 'collapses' then who knows
Jul 23rd 2012, 10:54 am
#79
Daffyd Duck
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Re: Is Australia officially in a Recession
relies totally on mining? 
the economy of Sydney is even bigger than the mining industry, and it's not even a mining city
more than 2/3 of the Australian economy is service sector
the economy of Sydney is even bigger than the mining industry, and it's not even a mining city
more than 2/3 of the Australian economy is service sector
Last edited by commonwealth; Jul 23rd 2012 at 10:56 am.
Jul 23rd 2012, 10:56 am
#80
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Re: Is Australia officially in a Recession
Seeing as the economy relies totally on mining to grow at all if mining 'collapses' then who knows
Jul 23rd 2012, 10:59 am
#81
Daffyd Duck
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Re: Is Australia officially in a Recession
using the same report you quoted, it says forecast annual economic growth of between 3.0 per cent and 3.4 per cent for the next five years.
Sep 7th 2012, 3:17 am
#83
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Re: Is Australia officially in a Recession
Well lets face it, reports are manipulated always and everywhere.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;
Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)
so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;
Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)
so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
Sep 7th 2012, 3:23 am
#84
Daffyd Duck
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Re: Is Australia officially in a Recession
ok. we can leave now.
Sep 7th 2012, 4:06 am
#85
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Re: Is Australia officially in a Recession
Sep 7th 2012, 5:10 am
#86
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Joined: Jul 2010
Posts: 1,253
Re: Is Australia officially in a Recession
Well lets face it, reports are manipulated always and everywhere.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;
Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)
so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;
Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)
so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
The majority of Aussies could give a flying **** what is going on economically in the country so long as houses prices are good.
God knows what would happen if houses prices ever did crash, probably be jumping like lemmings.
Sep 7th 2012, 9:24 am
#87
Lost in BE Cyberspace
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Posts: 6,039
Re: Is Australia officially in a Recession
shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh but as long as houses prices continue to rise all will be OK
The majority of Aussies could give a flying **** what is going on economically in the country so long as houses prices are good.
God knows what would happen if houses prices ever did crash, probably be jumping like lemmings.
The majority of Aussies could give a flying **** what is going on economically in the country so long as houses prices are good.
God knows what would happen if houses prices ever did crash, probably be jumping like lemmings.
House prices have been gradually going down in Brisbane for a couple of years...did no-one tell housepricecrashdotcom because everyone else knows ? 
Sep 7th 2012, 10:00 am
#88
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Location: UK now, Australia in 2014
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Re: Is Australia officially in a Recession
Australias economy is still growing at present, will it continue, who knows, I think it will grow at a lesser rate, but recession, I personally doubt it, but is it possible, I would say it is, but it's impossible to predict.