/ 02 December 2021

Blowing off the economic cobwebs

Image source: SMH
Image source: SMH

If you need reminding, Greater Sydney and Melbourne (with guest star appearances from other cities/regions) were in lockdown for all/a good part of July-September. What’s the damage? Our gross domestic product (aka all activity across the economy) fell 1.9% in the quarter – the 3rd biggest fall on record. Economists expected a 2.7% dip, so that’s something… Staying with the glass-half-full theme, the economy is forecast to recover the lost ground between October and December. And while we’re talking economic indicators, a new month brings new data on housing prices, and November saw a rise for the 14th-straight month. One change: the pace of growth was the slowest since January, leading analysts to think that the latest boom may be nearing a peak. Sea/treechangers continue to bump up regional home prices – they were up 2.2% compared to the capital cities’ 1.1% rise in November.

Know someone who'd be interested in this story? Click to share...

The Squiz Today

Your shortcut to being informed, we've got your news needs covered.

Get the Squiz Today newsletter

Quick, agenda-free news that doesn't take itself too seriously. Get on it.