Rudd’s $10.4 billion dollar economic stimulus plan seems to have done the trick. It has stabilised the patient. ABS housing finance figures released today show the value of dwelling commitments for owner occupier housing increased 1.4%. This positive result is driven by a 17.8% increase of First Home buyers entering …
An ANZ survey of jobs advertised in both Print and Internet media has plunged to recessionary levels. Job ads advertised in December fell 9.7%, accelerating from the previous month’s fall of 8.6%. Job ads are now down 29.9% for the year. » Jobs ads tumble to recession levels: ANZ surveyThe …
Insolvency and Trustee Service Australia (ITSA) data today shows bankruptcies have increased 6.03% in the year to December with a total of 6649 cases filed. Debt agreements are up 37.12 percent over the same period. » Bankruptcies hit record high in Australia – Sunday Telegraph, 11th January 2009.
December saw a staggering 524,000 jobs shredded as the recession picks up pace in the US. December’s decline brings the year’s total loses to 2.6 million, the worst year since 1945 when World War II ended. The US unemployment rate now stands at 7.2%, the highest rate since 1993. » …
The Bank of England has today reduced the benchmark interest rate by 0.5% to 1.5%, the lowest rate since the Bank of England was established in 1694. » BOE Cuts Rate to Lowest Since Bank’s Creation in 1694 – Bloomberg, 8th January 2008.
Victorian’s are finding out that their property market isn’t as resilient as first thought. House prices have fallen 5% since July bring loses to $40 billion. The medium house price has fallen from $450,000 in the middle of last year to $427,500. » $40b lost in six months as Victorian …
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