| Australia Economy Archive: |
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RBA Minutes
May 20, 9:48 AM EDT |
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| The Board decided to leave the cash rate unchanged at 7.25%. |
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| The CPI rose by 1.3% in the quarter and by 4.2% over the year. The various measures of underlying inflation were similar to the CPI over the latest year. The general increase in inflationary pressure was the result of strong growth in domestic demand in the face of limited spare capacity and rapid growth in commodity prices over the past few years. |
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Merchandise Imports Fall 3% in April
May 19, 9:49 AM EDT |
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| In original terms, the April 2008 merchandise imports were $17,458m, an increase of $691m on the revised March 2008 merchandise imports of $16,767m. |
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| Preliminary analysis shows that goods imports on a balance of payments basis decreased by 3% in seasonally adjusted terms between March and April 2008. Capital goods fell $435m with civil aircraft decreasing by $329m. |
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RBA: Monetary Policy Statement
May 09, 9:45 AM EDT |
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| While global growth prospects have softened since last year, inflation remains a concern in many countries. |
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| Inflation in Australia picked up over the past year in an environment of limited spare capacity and earlier strong demand. In these circumstances, a significant slowing in the growth of demand from the rapid pace of 2007 will be needed in order to return inflation to the target over time. There are signs that such moderation is now occurring. |
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Jobless Rate Rises to 4.2%
May 08, 7:44 AM EDT |
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| Employment increased by 25,400 to 10,712,900. |
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| Unemployment rate increased by 0.1 percentage point to 4.2%.The male unemployment rate increased marginally to 4%, and the female unemployment rate increased by 0.2 percentage points to 4.5%. |
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Australian Retail Sales Gain 0.5% in March
May 02, 7:41 AM EDT |
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| In original terms, Australian turnover increased by 6.1% in March 2008 compared with February 2008. |
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| The seasonally adjusted estimate of turnover for the Australian Retail and Hospitality/Services series increased by 0.5% in March 2008. This follows a decrease of 0.1% in February 2008 and a revised no change in January 2008. |
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Australian Building Approvals Drop 5.7% in March
May 01, 8:14 AM EDT |
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| The trend estimate for private sector houses approved fell 1.1% in March following a revised fall of 0.9% in February. |
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| The seasonally adjusted estimate for total dwelling units approved fell 5.7% in March following a revised fall of 0.8% in February. |
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