State of the states: April 2015 state and territory economic performance report

Overview: How are Australia\u27s states and territories performing? Each quarter CommSec assesses the overall economic performance of each jurisdiction on eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance; and dwelling commencements. Just as the Reserve Bank uses long-term averages to determine the level of ‘normal’ interest rates; we have done the same with key economic indicators. For each state and territory, latest readings for the key indicators were compared with decade averages – that is, against the ‘normal’ performance. Last quarter NSW shared the top spot of Australia’s economic performance rankings alongside the Northern Territory. However this time around NSW has edged ahead to take sole ownership of the top ranking. The Northern Territory was ranked the second best performing economy overall, ranking first on four of the eight indicators: economic growth; equipment investment; unemployment; and construction work. The next grouping is Western Australia and Victoria. Queensland holds on to fifth spot. The ACT and South Australia are closely grouped in sixth and seventh respectively. Tasmania is ranked eighth

Biggest lift in petrol prices in twenty-four and a half years

Petrol is set for its biggest quarterly jump in nearly 25 years, according to this report. Summary What does it all mean? The good news for motorists is that petrol prices are still down on a year ago. The bad news is that the early-February low-point for pump prices is now a distant memory. Pump prices are set to rise a little further in coming weeks, based on higher Singapore gasoline prices and domestic wholesale petrol prices. After falling by 12.2 per cent in the March quarter, the petrol price is currently up by 13.1 per cent in the June quarter, boosting the economy-wide inflation rate by 0.4-0. 5  percentage points in the quarter. Petrol is on track to the biggest quarterly increase in 24½ years (since December quarter 1990).  Consumer sentiment has softened in recent weeks, and it is highly likely that the lift in petrol prices and a weaker Aussie dollar are key culprits driving the gloomier disposition. It is not that the economic environment has deteriorated markedly; rather it isn’t as favourable as it was a few months back.               &nbsp

State of the states: January 2016 state and territory economic performance report

Each quarter CommSec attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. Just as the Reserve Bank uses long-term averages to determine the level of “normal” interest rates; we have done the same with the economic indicators. For each state and territory, latest readings for the key indicators were compared with decade averages – that is, against the “normal” performance

Confronting the 'Resource Curse or Cure' Binary

The use of the curse or cure dichotomy to frame a discussion around the impacts of mining is an oversimplification, not least in the emphasis on one or the other (as opposed to curse and cure). It is, however, a potent trope for engaging critically with the consequences of mining not only in narrow economic terms but also in regard to political, social and environmental costs and benefits. Further, as Goodman and Worth (2008: 201) point out, to engage with the resource curse or cure question is to also engage more broadly with "the internal contradictions of capitalist development" as evident, for example, in divisions "between those who benefit from and those who bear the costs of accumulation" and the many conflicts-political, social, economic, environmental-attending resource extraction. It is in this sense that this volume mobilises the 'resource curse or cure?' motif