Monday, August 8, 2011

Some charts from the RBA

Some interesting charts from the latest RBA Statement on Monetary Policy.

Christopher Joye has posted that the mining capex itself is worth 10 percentage points of GDP while the non-mining capex mailaise continues ......

 Mining and retail at opposite ends of the scale. Much uncertainty in retail particularly related to how much of the problems are structural rather than cyclical with the growth of online shopping for discretionary items. Queensland Economy watch has also posted on retail trading hours restrictions holding back retailers.

Those loan arrears for recently originated mortgages in Qld (and WA) are probably part of the story on where some of the problems are  in the Qld economy. Presumably there is a correlation here with the last Federal first homeowner stimulus? The latest Qld scheme is now open for business apparently with some reports of strong interest. No amount of economic rationality can stand between a politician and a first home owners scheme!

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