The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Thursday, February 9, 2012

Australia's economy growing "at trend" in fourth quarter, with better growth ahead

Hate to say it, but I did tell you so...On this basis, the December rate cut was a policy error. NAB reports today via its widest and most comprehensive business survey:

"Business conditions strengthened in the December quarter, following a moderation in activity in the previous quarter, and were suggestive of an economy growing at around trend. The pick up in conditions in the quarter was attributable to broad-based improvements in profitability, employment and trading conditions. Forward indicators of near-term demand, including forward orders, stocks and capacity utilisation, all rose in the quarter, implying an expectation that domestic demand will strengthen a little in the first three months of 2012."