Excerpts from Daily Telegraph article 10-9-08 and comments
Almost 250 building firms have collapsed in Australia in the past 18 months according to credit agency Dun & Bradstreet. Continue reading
NSW was the only state or territory to record negative growth in the June quarter as its households were hit hardest by high interest rates and petrol prices. State final demand – a principal measure of state economic activity – shrank by 0.1 per cent in NSW in the three months to June 30. Continue reading
THE property market continues to struggle with high interest rates and a slowing economy, with new home sales falling in July, a survey has found. Continue reading
Borrowers take heart: the Reserve Bank of Australia feels your pain.
The central bank, acknowledging a slump in borrowing, lower consumer confidence, and weaker growth prospects, says an early rate reduction may be needed. Continue reading
CONSUMERS are paying the highest average interest rate on their credit cards in 15 years, analysis shows.
The average rate on a standard credit card is now 19.50 per cent Continue reading
Construction activity shrank for the fifth consecutive month in July, as the sector continued to be squeezed by high interest rates and a reduction in home-loan applications.
The Australian Industry Group-Housing Industry Association performance of construction index decreased to 41.6 in July, up slightly from the June’s 40.3 point two-and-a-half year low but still well below the 50 point mark that separates growth from contraction. Continue reading
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