Thursday, August 2, 2012

Shock: No bad news on economy!

Data releases for the Australian economy have been positive this week. Retail sales for June have beaten expectations with an increase of 1%. Even the struggling department store sector received a boost as illustrated at Mark the Graph.

For the year to June retail sales in Queensland relative to other states yet again demonstrate our relegation to comparison with poor old Tassie. Oh ...... hang on!?

Yesterday ABS released cost of living estimates as reported by Peter Martin.
The government statistician has a sobering message for Australians who think their own personal rates of inflation are way in excess of the official rate of 1.2 per cent. It’s that they are probably much lower.
Living costs, year to June

Working families: 0.7%
Age Pensioners: 0.7%
Self-funded retirees: 0.7%
Newstart and other benefits: 1.3%

Consumer Price Index: 1.2%

ABS 6463.0

Things are so bad that Spain looks more attractive every day ........

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