According to China’s National Bureau of Statistics, real estate inventory reached 686 million square meters at the end of October, up 18 per cent from a year earlier. With the average size of an urban Chinese home 60sqm, this represents an excess of approximately 11 million unsold homes. At the …
Plunging prices for Australia’s largest export, iron ore, has forced Atlas Iron to announce on Friday, it was suspending operations and shutting down production over the next couple of weeks. The announcement will see the loss of 500 jobs at its Pilbara mines and another 75 redundancies at its head …
Before heading out the doors for Christmas, the Reserve Bank of Australia (RBA) board indicated “on present indications, the most prudent course is likely to be a period of stability in interest rates.” The last time the RBA had taken the knife to interest rates was on the 7th August …
Australia is now in the grip of the largest terms of trade collapse since records started in 1959, unleashing havoc on Federal budgets that will ultimately flow through to wages and household balance sheets. The terms of trade is an index calculated by the Australian Bureau of Statistics (ABS) showing …
Data released today from Beijing’s municipal bureau of statistics show housing sales in Beijing has plunged 39.4 percent year on year to May, a further sign China’s property market is cooling. Sales of commercial buildings, which include residential and commercial property, slumped 33.6 per cent over the same period. Today, …
Wednesday’s decision by BHP Billiton to delay the Olympic Dam expansion could herald the end to Australia’s mining investment boom and commodities super-cycle. Debate about when or if the boom had peaked started earlier this month when a report from Deloitte Access Economics had forecast a peak for resource sector …
It wasn’t all that long ago that the experts were saying the mining boom still had another 20 to 30 years left. How quickly things can change. Just as expected, if the world starts tightening it’s purse strings, demand for product from China has to contract. Couple this with an …
Copyright 2006 - 2022