Recession
 

Is Australia in Recession?

I read an article of international economic website saying recession at the doorstep of australia.

Re: Recession
 

No not yet but almost. A gauge of the population working or looking for work here, in fact sunk to 65.2 per cent, its lowest level in almost two years. But this has happened before and Aus always bounces back.

Re: Recession
 

No. Not at all. This seems to give a balanced summary of the situation: http://www.businessspectator.com.au/...rc=sph&src=rot

Re: Recession
 

Depends who you listen to, some say it never avoided it although technically it did. I think most countries are just a couple of bad quarters away from 'recession'. Given the fragility of most sectors of the economy it is a definite possibility.

Re: Recession
 

No. Many on here are wishing it to be (see above) but it's not.

Re: Recession
 

some states are... but some states are not..

Resources are propping up the balance in the non recession column

Re: Recession
 

Yes, those are the facts, like it or not.

Re: Recession
 

Interesting question.

The government doing another round of cash handouts would indicate its worried, and the last time they did that it was stated it was to avoid recession so is it the same reason again??

Sooo many job losses, and so many big companies going bust.

The unemployment rate is nonsense despite how healthy it sounds:sneaky: Working for 2 hours a week is employed:sneaky:.

My teen works in retail, one of the biggest stores, no real competition for this business. Yet most they employ are on 3 - 6 shifts a month as figures are down. This has gone on for months now, many there with families claim they are getting charity food stamps to survive. Thousands of public service jobs are to go, even Melbourne seems to be announcing loads of job losses.

Housing and construction have tanked. I dont actually think they can get much worse:eek:, hence the rate cuts, another measure perhaps to avoid recession.

Dollar seems to be a dump not hold factor.

I dont know if we are going to have a recession, I hope not, but there is some pretty grim news out there.

Re: Recession
 

According to this recent article, just 60 minutes employment in the particular week of the month which is counted is the requirement to be considered employed.

Re: Recession
 

The unemployment rate in Australia, the UK and other countries is measured using systems defined by the International Labour Organization (ILO). This prevents anyone with an opinion (assholes etc) having this opinion taken as valid. Therefore the unemployment rates stated by the governments of the UK, Australia etc are the ones to use.

Re: Recession
 

I reckon Melbourne is in a state of flux at present, as the central parts seem to be switching over to a more SE Asian type of feel. Business is changing from the old school to the new SE Asian base. Two out of Three new shops or business that opens seems to be run by Chinese or other SE asians... with plenty of Indians in tow as well.

So I'm not so sure whats happening with Melbourne is recession more transistion. Not many shops closed. I've seen plenty of times when there have been more empty shops along Sydney rd than now. In fact I cant think of any empty shops at present.

Could be that Aus is starting to switch economies.

The big downside is some of the old tradtitional non pokie pubs.... Like the Iconic East Brunswick hotel, are shutting down to make way for apartments for these SE Asians.

Re: Recession
 

total bull
only had 3 days out of work in 5 years as a self employed carpenter
technical Recession is totally different to what I call a Recession

like the one I remember in the 80s in north wales

people on BE seem to want to talk themselves into Recession

Re: Recession
 

there are certain posters on BE that would be delighted if Australia was in recession.

Re: Recession
 

You may be right, equally some seem very happy to see the UK in the same situation.

Re: Recession
 

There's none so blind as those that don't want to see

Re: Recession
 

I don't care, I don't live there.

Re: Recession
 

Definitely not. I've just come back from 4 weeks in Ireland, now that's a country in recession! Dreadful how people are struggling, paycuts everywhere, houses being repossessed by the banks, unemployment at an all time high......

Re: Recession
 

Certain areas of manufacturing are extremely quiet with quite a few job losses happening over the last few months. Nothing compared to Europe though.

Re: Recession
 

These are the facts of the case, and I am fairly centrist on this one.

Years ago, there were a few posters who basically said that the GFC would come to Australia. 'The house of cards' etc. There may have been rolleyes etc etc. Well it may yet - but not in the time between then and now.

Slappy and Zulu have read what's in the press. Zulu has said the Uk ecomomy is '*****ed'. It probably is. But then so is France, Italy, Greece etc. They are even more 'f**cked'. Read: the Euro is f***ed.

We'll see what happens to Australia. It's slowin' down. Foreplay?

Re: Recession
 

Good for you.

Re: Recession
 

Exactly.

Re: Recession
 

No :)

Re: Recession
 

woteva!

Re: Recession
 

Don't need to see. Comfortable life in UK, comfortable life here but as a country there is no escaping the fact that GB isn't in the best situation. It isn't about saying the country has gone to the dogs or what a craphole it is, it is about black and white facts about the country as a whole. Some people such as tool955 and yourself are probably not affected given you live in nicer (??) parts of the UK just like I am not affected by the issues that Australia may have as my husband is in O&G and earns a very good living.

Re: Recession
 

Detail?

Don't confuse macro-economics with what's going on elsewhere.

I am only referring to certain parts of it, and the politics, as reported in the context of Europe.

All is not rosy that is all and there is not massive growth, or indeed growth at all. Otherwise we could wind the clock back to 1999 and pretend it is still 1999....(eg).

I don't agree it is 'f**d' (not my words) but there is concern all over Europe and Cameron is not popular.

Governments are falling in Europe...it's as much political as economic.

This Australian Labour govt will fall too.

Re: Recession
 

haters gotta hate

Re: Recession
 

The Australian govt told us the the GFC would come to Australia.

Rewind 3 years. They, those armed with more details the most, aka the Treasury told us unemployment would peak at 8.5% and I think the economy would shrink -1.5%...and that was with chucking $950 at every man and his dog...otherwise they said unemployment would be 10%.

Some people took that at face value and are forever castigated as the haters.

Re: Recession
 

Technically NO I think two terms of
Negative growth are a factor to
Calculate a recession .
I don't know if people in certain
Income bubbles in certain areas
Of Sydney & Melbourne could ever
Exept a uk type recession to happen
In Australia Some people are so smug
About the good times , it would be like
A piano falling on them from a great
height
Digg another hole and not crawl in but
Sell it to the Chinese

Re: Recession
 

Maybe but these facts weren't bandied around...just rolleyes and gleeful grins.....!

Re: Recession
 

I would be more than happy for Australia to go into recession if it brings house prices down and therefore speeds up my return. Hard on those that would have to suffer but I'm willing to let them make the sacrifice.

Re: Recession
 

Europe is the big worry. Strap your seatbelts on. I think the next 12 months will be a doozy.

Australia is one of the strongest economies in the world but events beyond our control in Europe will affect us. selfishly I am very glad to be here, but I take no pleasure in the state of European economies.

Re: Recession
 

Be careful about subscribing to the "Eurozone is doomed" theory. Data out today shows France hanging in there (ie. not in recession) and Germany still roaring ahead. Even the Eurozone as a whole is not yet in recession.

But if you believe the Tories it's the Eurozone dragging the UK down :huh:

Blighty has plenty of problems (and debt) of its own without needing to look across the Channel

Re: Recession
 

Looks like the UK was right to stay out of the Euro.

Re: Recession
 

Wait and see when the OZ dollar is .60 to the US $:sneaky:


just saying ......

Re: Recession
 

isnt that what the exporters are hoping for?

(FYI the average rate in the past decade or so was 70-80 US cents)

Re: Recession
 

When the pound was 2.20 I predicted 1.5 and got same response.

Lets see in 9 to 12 months:D

Re: Recession
 

not good for o/s travelers and online shoppers but could be good for local industries.

Re: Recession
 

France is considered to be doomed because they have lent so much to Spain, Italy, etc.

When Greece goes down, the other PIIGS are in the direct firing line, and with them France as the paymaster.

Kicking Germany out of the Euro for six months, and redirecting QE money to new exporting business creation, seems to be the best route out for the EU.

Re: Recession
 

Europe is collapsing very soon, and now my country wants to be a part of it. What idiots of politics we have in past 20 years. I don´t think AU is in recession, as the matter of fact, I wanna immigrate downunder since childhood.

Re: Recession
 

I'd cope ;)