ECONOMY

Private demand still “running on empty”. Broadly unchanged forecasts but concerns to the downside. Fiscal policy help unlikely.

The housing market recovery has continued to gather some pace through with our national index up 1.7% last month.

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Business conditions tracked sideways in the month, and appear to have stabilised at low levels, after declining significantly between mid-2018 and 2019.

High cost of water dries up basin profit margins.

Hopes of a US-China ‘Phase One’ trade agreement have lifted financial markets. While in Australia we’ve lowered our near-term forecast for growth.

Most of China’s indicators relatively weak year-on-year, however, the 70th anniversary of the founding of the People’s Republic of China at the start of the October has made this harder to gauge.

Near term growth prospects still weak, but potential trade deal offers some upside.

Private demand still stalled. Broadly unchanged forecasts but slightly lower growth in the near term. Policy help delayed.