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Is Australia officially in a Recession

Is Australia officially in a Recession

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Old Jul 19th 2012, 6:48 pm
  #31  
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Default Re: Is Australia officially in a Recession

Originally Posted by commonwealth View Post
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:
  • 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%)
If Canada's unemployment rate were measured using the same US' standards would be around 6.2-6.4%.
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Old Jul 19th 2012, 8:42 pm
  #32  
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Default 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)
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Old Jul 19th 2012, 10:10 pm
  #33  
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Default 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
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Old Jul 19th 2012, 10:23 pm
  #34  
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Default Re: Is Australia officially in a Recession

Originally Posted by khalil.k View Post
you cannt consider that OZ is officially in a Recession because government didnt officially say that the economy is Recession
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Old Jul 20th 2012, 3:42 am
  #35  
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Default 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.

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Old Jul 20th 2012, 4:20 am
  #36  
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Default 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?
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Old Jul 20th 2012, 4:29 am
  #37  
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Default Re: Is Australia officially in a Recession

Originally Posted by lumpommer View Post
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.

It's not a problem if your salary increases by more than inflation.

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.
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Old Jul 20th 2012, 9:02 am
  #38  
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Default 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
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Old Jul 20th 2012, 11:36 am
  #39  
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Default Re: Is Australia officially in a Recession

Originally Posted by bra_boy View Post
"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
I have to agree, my grocery expenses have been shrinking, thanks to the Woolies-Coles Price Wars! I hardy felt any increase in other costs of living. My rent was flat for more than a year, petrol and many imported items are cheap thanks to the strong AUD.

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.
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Old Jul 20th 2012, 1:29 pm
  #40  
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Default 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.

Originally Posted by lumpommer View Post
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.

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Old Jul 20th 2012, 2:59 pm
  #41  
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Default Re: Is Australia officially in a Recession

Originally Posted by chris955 View Post
One thing we have noticed since being back in the UK is how cheap many things are, especially food, compared to Australia.
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.
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Old Jul 20th 2012, 4:06 pm
  #42  
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Default Re: Is Australia officially in a Recession

I disregard the current exchange rate.

Originally Posted by commonwealth View Post
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.
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Old Jul 20th 2012, 9:33 pm
  #43  
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Default Re: Is Australia officially in a Recession

Originally Posted by chris955 View Post
I disregard the current exchange rate.
so what rate are u usig?
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Old Jul 20th 2012, 11:48 pm
  #44  
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Default Re: Is Australia officially in a Recession

Originally Posted by chris955 View Post
I disregard the current exchange rate.
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.,

Last edited by ozzieeagle; Jul 20th 2012 at 11:53 pm.
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Old Jul 21st 2012, 12:10 am
  #45  
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Default Re: Is Australia officially in a Recession

Originally Posted by lumpommer View Post
With prices rising and unemployment rising has recession finally come to Australia.

Hi

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.
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