Recession in Oz
Nov 4th 2008, 9:26 am
#1
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Recession in Oz
Just a heads up;
"We are forecasting a recession'' - Helen Kevans, economist @ JPMorgan Chase & Co. in Sydney.
"Australia's gross domestic product rose 0.3 percent in the second quarter, the weakest growth in more than three years, as consumers cut spending for the first time since 1993."
"House prices fell 1.8 percent in the third quarter, the biggest drop since the late 1970s."
"Retail sales tumbled in September by the most in three years and job advertisements slid for a sixth month, reports showed yesterday"
"An index of manufacturing slumped in October to the lowest level since the Australian Industry Group began measuring output in 1992, another report showed yesterday."
http://www.bloomberg.com/apps/news?p...u8c&refer=home
"We are forecasting a recession'' - Helen Kevans, economist @ JPMorgan Chase & Co. in Sydney.
"Australia's gross domestic product rose 0.3 percent in the second quarter, the weakest growth in more than three years, as consumers cut spending for the first time since 1993."
"House prices fell 1.8 percent in the third quarter, the biggest drop since the late 1970s."
"Retail sales tumbled in September by the most in three years and job advertisements slid for a sixth month, reports showed yesterday"
"An index of manufacturing slumped in October to the lowest level since the Australian Industry Group began measuring output in 1992, another report showed yesterday."
http://www.bloomberg.com/apps/news?p...u8c&refer=home
Nov 4th 2008, 9:34 am
#2
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Joined: Sep 2002
Location: Ilukapool. WA
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Nov 4th 2008, 11:00 am
#3
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Recession in Oz
Just a heads up;
"We are forecasting a recession'' - Helen Kevans, economist @ JPMorgan Chase & Co. in Sydney.
"Australia's gross domestic product rose 0.3 percent in the second quarter, the weakest growth in more than three years, as consumers cut spending for the first time since 1993."
"House prices fell 1.8 percent in the third quarter, the biggest drop since the late 1970s."
"Retail sales tumbled in September by the most in three years and job advertisements slid for a sixth month, reports showed yesterday"
"An index of manufacturing slumped in October to the lowest level since the Australian Industry Group began measuring output in 1992, another report showed yesterday."
http://www.bloomberg.com/apps/news?p...u8c&refer=home
"We are forecasting a recession'' - Helen Kevans, economist @ JPMorgan Chase & Co. in Sydney.
"Australia's gross domestic product rose 0.3 percent in the second quarter, the weakest growth in more than three years, as consumers cut spending for the first time since 1993."
"House prices fell 1.8 percent in the third quarter, the biggest drop since the late 1970s."
"Retail sales tumbled in September by the most in three years and job advertisements slid for a sixth month, reports showed yesterday"
"An index of manufacturing slumped in October to the lowest level since the Australian Industry Group began measuring output in 1992, another report showed yesterday."
http://www.bloomberg.com/apps/news?p...u8c&refer=home
Which article is right?
Always remember that for every 'expert' with an opinion there is another 'expert' with an opposite view.
Nov 4th 2008, 9:29 pm
#4
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Joined: Oct 2008
Location: Far North Queensland
Posts: 2,812
Re: Recession in Oz
The RBA dropping interest rates to the same level as inflation suggests they think there will be a recession.
Nov 5th 2008, 10:43 am
#5
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Nov 5th 2008, 11:15 am
#6
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: Recession in Oz
Look on the bright side: we're heading into summer. It must be better suffering a recession in summer than in a cold bleak winter 
Nov 5th 2008, 11:17 am
#7
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Joined: Dec 2004
Location: Newcastle Upon Tyne
Posts: 364
Re: Recession in Oz
There may be a recession of sorts in Australia, however most of the financial advisors I have spoke to said it wont hit Australia anywhere near as bad as say the UK or the US.
I suppose no one really knows for sure and only time will tell. I dont think I could have picked a worse time to give up a good paying job and move countries.
Just got to hope for the best and see how things pan out I guess.
I suppose no one really knows for sure and only time will tell. I dont think I could have picked a worse time to give up a good paying job and move countries.
Just got to hope for the best and see how things pan out I guess.
