Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au
A review of the week’s economic data
A review of this week’s economic data, November 27 to December 1.
December 1, 2017
CORELOGIC CAPITAL CITY HOUSE PRICES
Capital city property prices remained flat compared to a month ago. The week to November 26 was the third-busiest this year for properties going to auction, with 3,409 homes under the hammer across all capital cities. The clearance rate was in the mid-60 per cent range, well below where it was a year ago.
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ANZ-ROY MORGAN CONSUMER CONFIDENCE WEEKLY SURVEY
Consumer confidence eased 1.2 per cent in the past week but the ongoing improvement in labour market conditions may yet spell good news for retailers over the holiday season.
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AUSTRALIAN BUREAU OF STATISTICS (ABS) BUILDING APPROVALS FOR OCTOBER
Approvals for the construction of new homes rose by a surprise 0.9 per cent in October, boosted by a jump in construction activity in Victoria. The increase was far better than market expectations of a one per cent decline.
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AUSTRALIAN BUREAU OF STATISTICS (ABS) CAPITAL EXPENDITURE FOR SEPTEMBER QUARTER
Investment in capital goods rose one per cent to $29.4 billion in the September quarter, aided by a 1.2 per cent increase in spending on building and structures, while plant & equipment spending improved by 0.7 per cent. This follows a revised 1.1 per cent increase in the June quarter and a 1.2 per cent rise in the preceding quarter.